First Republic Under Stress, Now What?
The Macro Trading Floor
The Bank of Japan Moved the Narrow Rhetorically
A lot of people expected bank of Japan to move at least move the needle rhetorically. They actually moved the needle in a few sneaky ways if you ask me. The Bank of Japan has never been data dependent. Guys come on, they've always done one thing for 25 years. That is the news and the fact that they could move interest rates higher is also the news. Exactly what I said before. If you are short a dollar along the Japanese yen you are paying at the moment a forward carry of let's call it 4% over the next let's say 4% annualized. So you are bleeding airy basically to be in the trade. You don't want to own a
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