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Thanks F.B for the email
Hi NYUGrad!
I hope you are doing fine!
I got your podcast/email download right before taking off on a flight to Asia on Saturday, and was very happy to have it as the first listening of the trip.
Thank you very much for the very useful updates on Gold stocks and the overall market.
Best wishes,
F.B (Paying Subscriber)
Binge NYUGrad is live
New resource I want to share with Free members
Tracks the percentage of the U.S. labor force that does not have a full-time job (35+ hours a week) but wants one, has no job, or does not earn a living wage, conservatively pegged at $25,000 annually before taxes.
Some highlights by time
3pm Treasury Quarterly Refunding announcement caused that selling. They need to borrow moaaAAARRRR!!!!!
During the April – June 2024 quarter, Treasury expects to borrow $243 billion in privately-held net marketable debt, assuming an end-of-June cash balance of $750 billion.[2] The borrowing estimate is $41 billion higher than announced in January 2024, largely due to lower cash receipts, partially offset by a higher beginning of quarter cash balance.[3]
https://home.treasury.gov/news/press-releases/jy2304
2:30pm
$SPY 21m shares traded vs 71m avg as of 2:30pm (70% shy). Everyone go home early and hug your family
GOOGL losing a lot of the earnings pop
MSFT lost all of the earnings pop
Yen carry trade is more important than all of this. 20 Trillion +
One of the most popular trades in foreign-exchange markets is losing its luster as the Bank of Japan signals the end of its negative interest rate policy.
The appeal of using borrowed yen to buy securities denominated in higher-yielding currencies, known as a carry trade, is in flux after remarks this week from the BOJ’s Hajime Takata hinted at a potential policy change. That’s giving pause to money managers, especially now that leveraged funds have boosted their bets against the yen.
Understand the inter relationships
Yen crashed Sunday
this is bad for Japanese population as they are an island and need to import things
If usd rises as the currency pair should with yen falling, that is a head wind for the market. Higher rates. Lower stocks.
Yen begins to get propped up Monday am. USD begins to fall
Watch this dynamic. Is Japan finally going to allow the Yen to rise? You better book your trip to Japan before they do.
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