Offshore
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Hidden Value Gems
A few charts on why Yen carry trade has become such an important factor:
1/ Low rates and low inflation led to Yen weakening, which in turn…
2/ Led to more shorts against Yen and…
3/ More cross-border borrowing in Yen
4/ But a sudden rise in rates and Yen, reversed this “carry trade”.
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A few charts on why Yen carry trade has become such an important factor:
1/ Low rates and low inflation led to Yen weakening, which in turn…
2/ Led to more shorts against Yen and…
3/ More cross-border borrowing in Yen
4/ But a sudden rise in rates and Yen, reversed this “carry trade”.
tweet
Offshore
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Hidden Value Gems
The doom loop and four ways it may end, according to @Gavekal
Falling US stocks lead to US dollar declines expectation to Yen strength to Yen carry trade unwinds to more selling of US stocks and so on. https://t.co/MGmvZ7aYZr
tweet
The doom loop and four ways it may end, according to @Gavekal
Falling US stocks lead to US dollar declines expectation to Yen strength to Yen carry trade unwinds to more selling of US stocks and so on. https://t.co/MGmvZ7aYZr
A few charts on why Yen carry trade has become such an important factor:
1/ Low rates and low inflation led to Yen weakening, which in turn…
2/ Led to more shorts against Yen and…
3/ More cross-border borrowing in Yen
4/ But a sudden rise in rates and Yen, reversed this “carry trade”. tweet
Offshore
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iinvested
2Q'24 Merion Road Capital on $VCTR, $LAKE
https://t.co/crY8866fjc
More fund letters here:
https://t.co/WRGkdL2eBG https://t.co/C64R152izi
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2Q'24 Merion Road Capital on $VCTR, $LAKE
https://t.co/crY8866fjc
More fund letters here:
https://t.co/WRGkdL2eBG https://t.co/C64R152izi
tweet
Offshore
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Hidden Value Gems
Just came across this very interesting chart. US share of world GDP and world stock market used to be moving in tandem until 2010 when the two have almost “decoupled”.
The big tech was probably one of the key reasons behind this. The history suggests the largest companies rarely stay on top for long.
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Just came across this very interesting chart. US share of world GDP and world stock market used to be moving in tandem until 2010 when the two have almost “decoupled”.
The big tech was probably one of the key reasons behind this. The history suggests the largest companies rarely stay on top for long.
tweet