War raging. Dollar soaring. Economy crashing.

Lions and tigers and bears, oh my!

50
Thu, Apr 28, 2022 - 10:47am

Lions and tigers and bears, indeed. Wow, is there ever a lot going on today and the implications are significant. Let's try to make some sense of it all.

Let's start with the yen and the POSX, if only since this has been a daily topic of discussion lately. The BoJ massively interceded in the JGB market today in order to defend their 25 basis point ceiling and Yield Curve Control policy. As we've been discussing, they are absolutely KILLING their currency through these efforts and you can see it in the chart:...

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Key Economic Events Week of 5/16

5/16 8:30 ET Empire Fed Manu Idx
5/16 9:00 ET Goon Williams
5/17 8:00 ET Goon Bullard
5/17 8:30 ET Retail Sales
5/17 9:15 ET Cap Ute & Ind Prod
5/17 2:00 ET Chief Goon Powell
5/18 8:30 ET Housing Starts
5/19 8:30 ET Philly Fed
5/19 10:00 ET LEIII

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