Tagged: liquidity
5 posts
MacroJapan's Carry Trade Unwind Isn't Over
The August 2024 yen carry trade unwind was not a one-off event. It was the first tremor. The Bank of Japan is still the largest buyer of Japanese government bonds and the second-largest foreign holder of US Treasuries. Every time the yen rallies, that position becomes a source of forced selling. The next tremor is closer than the market is positioned for.
MacroQ1 2026 Macro Scorecard: The Liquidity Pivot Nobody Expected
Q1 2026: a Fed that refused to cut, a dollar that refused to weaken, and a global liquidity expansion that refused to wait for either. The quarter in full.
MacroGlobal M2 Is Expanding Again: What It Means for Bitcoin
Global M2 shows the highest correlation with Bitcoin's price among all macro variables tested. The money printer dictates the trajectory - and it's running again.
MacroJapan's YCC Exit and the Global Liquidity Squeeze
The Bank of Japan abandoned yield curve control, letting 10-year JGB yields rise to 1.8%. The yen carry trade unwind is draining global liquidity.
MacroDollar Milkshake Theory in 2026: Is DXY Divergence Bullish for Bitcoin?
DXY climbed to 108 as global capital flows toward US assets. The milkshake theory predicted this - but its implications for Bitcoin are more nuanced than either side admits.