Welp. Nikkei 225 down 3.7% and the usd/yen headed lower. Looks like we’re about to see just how much of that Yen Carry Trade is still out there.
Discussion
. . . of which a Fed rate cut may further exacerbate 🍻
Be interesting to see if a lot of the initial “deleverage” was targeted at liquid bitcoin vs. other things and the effects are seen elsewhere. I basically don’t know anything about anything but just a theory there isn’t that much downside on bitcoin (and my $10 DCA).
Calling Jerome Powell……