Three unrelated topics.
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am/FX combines global macro, cross-market analysis, sentiment and positioning, and independent research to bring you timely macro ideas in a concise, entertaining read you’ll look forward to.
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Investment bank outlooks may suffer from extrapolation bias. Tails are the base case.
Stocks and VIX don’t usually matter much for USDJPY. But sometimes they do.
Everyone is all in on the post-Trump Free Money trades.
EURUSD is still sell rallies. So are stocks. Need to let some of the froth out.
It makes sense that USDT and BTC inflows would benefit the USD, but the evidence is difficult to parse and inconclusive. Big rejection in EURUSD.
John Mauldin, Chairman
Mauldin Economics
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