ZH: Japan fires its top currency diplomat as yen disintegrates
ZERO HEDGE reports: It is hardly a coincidence that literally minutes after the USDJPY hit 161 ...
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
ZERO HEDGE reports:
(Authored by Garfield Reynolds via Bloomberg)
Even in an environment where implied volatility readings are grinding lower, there’s some noticeable angst appearing around the November US elections.
Bond traders look much more uncertain about the outlook for six months ahead than they do for the coming month, which underscores the potential for turmoil with both presidential candidates leaning toward increased spending.
There’s also speculation that Donald Trump would follow through after his comments earlier this year that he wouldn’t reappoint Jerome Powell as Fed Chair if he wins the US election.
The so-called fear gauges for Treasuries are showing the widest gap since 2014 between expectations for yields swings six months from now and the expectations for a month ahead. That’s similar to the picture for a range of currencies – the yuan’s 6 month-1 month volatility gap is the widest since 2016.
Equities look far less concerned, with the similar spread for the VIX only around the highest this year…
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