Loading ...But if they think they’ve been Trumped and are covering their bond shorts, they must be spending USD to buy them which would reduce USD liquidity?
I dunno, it’s all pretty convoluted. Surely markets, all these interrelated markets, becoming more and more entangled with each other, are reaching a tipping point where a butterfly will release a cascade of chaos. And while we think we can see the warnings – JGB, UST, DXY, shale, renewables, crypto, shipping, tariffs etc., we’ll never know what the last straw is until the camel’s back is broken, by which time, as per your 16:27, for everyone else it will be too late.