This time last week, everyone thought we’d all seen our last Friday.
Category: yen
Them’s Fightin’ Words.
There’s tension in the air.
You Should Have Just Gone To The Bar.
Generally speaking, this week’s theme (reflation back on in the U.S. as stocks, the dollar, and yields all rise in tandem) held, as there was no news “bigly” enough to change the narrative.
Just Make Sure You’re Hedged.
You’d probably be wise to do the same.
Make Risk Great Again.
Now stay tuned to find out if Kim bought some VXX today on the cheap so he can fire off an ICBM this evening and make a few million to put towards his next H-bomb.
Ok, Who’s Happy With Their Yen Short?
Of course as Bloomberg’s Dennis Pettit notes, that’s assuming everyone had the intestinal fortitude to not only endure the pain through Friday, but also…
Japanese Shares Surge Amid Asia Rally As Investors Super-Excited World Didn’t End
It’s all green screens out there early on as the relief rally gathered steam in
Dollar, Futs On The Rebound Early As Irma, Kim ‘Disappoint’
Everyone’s worst fears “fail to materialize.”
‘The Clocks Stopped At 1:17’…
Ok, get ready.
For now, the fiscal-chaos-can has been kicked, Harvey is behind us, and North Korea’s latest nuclear test has come and gone.
But dead ahead is Irma’s landfall in Florida, North Korea’s “founding day” (which by most accounts will be “celebrated” with an ICBM launch), and of course, more gridlock in D.C. We are, figuratively and literally, in the eye of the storm on Friday.
Wipeout: Dollar Crashes Across The Board
Dear lord: the pressure on the dollar is unrelenting.
It looks like no one wants to be the idiot that’s long USD headed into a weekend that could see a catastrophic hurricane strike on Florida and another ICBM launch for North Korea.Â
Boris The Bullet-Dodger.
Seemingly unwilling to risk any further damage to his already low approval ratings, Trump ultimately
Trump, Democrats Agree On Debt Limit Extension – Highlights, Reaction
DEMOCRATS, TRUMP AGREE TO DEBT LIMIT EXTENSION
TRUMP, CONGRESSIONAL LEADERS AGREED ON HARVEY, DEBT LIMIT, CR
SCHUMER, PELOSI: GOVT FUNDING, DEBT LIMIT EXTENSION TO DEC. 15
TRUMP, CONGRESS AGREE ON HARVEY AID, DEBT LIMIT, CR THRU DEC.15
Twitter Accuses British Geological Survey Of ‘Market Manipulation!’ As Algos Trade North Korea Tweet
To all the Twitter users who are angry at the British Geological Survey for posting an assessment of an earthquake and roiling markets, we would gently suggest that you consider the fact that earth science research is what they are supposed to be doing.
That is, it is their job to study geological events. It is supposed to be your job and the job of the robots “manning” the trading desks to decide what those events mean for markets.Â
Death By A Thousand Cuts.
The bottom line is that between another powerful hurricane approaching the U.S. mainland, U.S. markets catching up with their global counterparts in terms of pricing in North Korea after the long weekend, the DACA decision which portends more bickering in Washington, and the looming debt ceiling debate (with the specter of a technical default showing up in today’s decidedly poor 4-week bill auction), it was death by a thousand cuts.
Yields Tumble, Yen Surges As Perfect Storm Hits Markets
There’s a confluence of factors at play here including Hurricane Irma, Hurricane Brainard (dovish this morning), legislative gridlock that’s likely to be more acute after the DACA decision, and speculation that another provocation from North Korea could come at any time.Â
One Trader Wishes You’d ‘Stop Pretending That You Care The World’s Ending’
“Just to be clear, nothing moved enough to indicate any panic or identify where safety can really be found. And that isn’t all good. Asset prices pretend to be consumed with issues politic, but in fact trivialize everything.”
North Korea Seen Moving ICBM Into Position For Launch
“North Korea started moving an ICBM-class missile produced from Pyongyang research center on Monday after the nuclear test on Sunday,” Asia Business Daily reports, citing an unidentified official.
Is Gold Overbought Or Will Flying Missiles Make Shiny Doorstops Great Again?
But again, part of the story here is that gold could get some of the haven flows that would normally go to the yen. Because if this gets bad – and reports that Japan is preparing plans to evacuate 60,000 citizens living in or visiting South Korea suggest it might – then investors will likely shun the yen in favor of bullion and the franc (because as far as we know, Kim isn’t firing missiles at Switzerland).Â
Japan Reportedly Readies Mass Evacuation Plan For 60,000 Citizens In South Korea
Ok, well this is interesting. Nikkei is out reporting that Japan is planning for a possible
Asian Shares Tumble, Gold Rises As North Korea Said Planning New Missile Launch
“Though considered a tail risk, a military confrontation on the Korean peninsula could see Asian currencies falling 5% to 10% and the region’s equities plunging 20%,” UBS Wealth Management Global CIO Mark Haefele and head of Asia Pacific investment Min Lan Tan write in a new note.
USDJPY Dives In Early Trading In First Reaction To North Korea Nuclear Test
Despite the fact that Japan is in the firing line, the yen will of course retail its safe haven status right up to and until traders begin to think the threat emanating from Pyongyang has gone from hyperbole to real, which means this should come as no surprise…
Riders On The Storm.
Right, so the storm wasn’t supposed to come until next month.
Apocalypse Wow.
The crowds are huge for the end of the world…
Why Not Take A Minute Away From Buying XIV On Your Credit Card To Put On These Goldman-Approved Hedges?
Are you looking to hedge all of the risk exposure you put on today when
‘Well What If There Is No Tomorrow?!’ We’re All Phil Connors Now
“There wasn’t one today”…
‘I’m Worried About Donald Trump’- Global Markets, Analysts React To North Korea
While there’s no way to know, ahead of time, if “this time is different” in
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