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We keep finding important inflections dating back to late July. These corroborate growing problems starting in eurodollar collateral. Interest rate swaps, Japanese bills, Italy BTPs. In terms of currencies, India's rupee is a big one as the country bleeds reserves again like last year. More than all those, however, this other one had bucked the global trend last year. Where everyone else's exchange values plummeted, it had surged. Not any more; not since late July.
Eurodollar University's Money & Macro Analysis
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