Portfolio Updates
Profit/Loss: +4.59% Objective: Profit/Loss: -3.91% Objective: Profit/Loss: +17.49% Objective: Profit/Loss: +17.06% Objective:
Treasury vs. Macro Traders: The New War Over the Japanese Yen
“I am the house now.” That is the definitive warning U.S. Treasury Secretary Scott Bessent just issued to macro traders betting against the Japanese yen. For decades, foreign exchange markets have operated on a fundamental rule: don’t fight the central banks. But when a former world-class hedge fund manager takes the helm of the Treasury…
Bonds Are Back: Navigating the New Macroeconomic Regime
For years, bonds didn’t act like bonds. During the era of zero interest rates and massive central bank intervention, fixed income offered virtually no yield. It also stopped acting as a reliable hedge against equity downturns. Today, that anomaly is officially over. As Jim Reid from Deutsche Bank notes, bonds have finally become bonds again.…
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