As one might have expected, I received quite a number of responses to Monday's commentary. While there were a few that expressed solidarity with the view that this gold sell-off is a POSITIVE sign for the GLOBAL reflation/recovery trade, most of the replies were...
What a wild week! While it felt great to be back in the risk pool just before last Wednesday's liftathon in spoos; the late week Yen strength, gold meltdown, JGB long-end volatility and Cypriot bailout shenanigans provided plenty to ponder. Of course the long term...
There is no question that the news from Japan has been extremely important for global markets. And to be sure, we have been arguing since November 2012 that significant changes to BoJ policy would be one of the primary drivers of ALL global asset prices in 2013. Some...
For the last couple weeks we have stepped away from our multi-year risk-on views. The news in Cyprus was enough to temporarily change the game. And while many folks have questioned our HIGHLY unusual bout of nervousness over such a small country, I suspect that once...
The BoJ has at least 10 different policy levers to operate within the market place - the amount of JGB purchases, the average maturity of JGB purchases, the amount of CP purchases, the amount of non-financial BBB corporate purchases, the amount of JREIT purchases, the...
The BoJ has at least 10 different policy levers to operate within the market place - the amount of JGB purchases, the average maturity of JGB purchases, the amount of CP purchases, the amount of non-financial BBB corporate purchases, the amount of JREIT purchases, the amount of equity ETF purchases, the size of the fund […]
