Loading ...I though the AG was insightful. And it explains the rip we are experiencing, if trust is now failing.
One conundrum I have is the Yen. How big is the carry trade? Because if people are selling USD and buying Yen, that would counter the traditional weakening of the yen as bonds collapse. And accelerate the dollar’s slide. Or is it the case that there are so many more yen now than when the carry trade was blooming that the vloume of the trade will be easily absorbed by the greater supply of yen?