Also don’t forget that extreme negative carry (~550 bps/year vs the usd) and very low realized vol make it tough to be long yen - even at these absurdly low levels. On a long-term basis, USDJPY is most strongly correlated with US yields (not equities as so many like to claim). It simply appears like it’s correlated with equities because over the last 40 years, more often than not falling equities are accompanied by much lower Us yields - not the case the last 18 months. Long yen right now is kind of like being long US treasuries except that you get charged the coupon instead of paid it like with UST.
Thank you for Today's Haymaker. As was pointed out in the DFTC section, Jim Kramer is praising the Activity of the Magnificent Seven...A no better Kiss of Death could be provided than by listening to Mr. Kramer expound forthrightly about these Stocks...Wish I has a few Gs to buy puts on all of them!
The Nikkei was cheap but not so cheap after a greater than 30% rally this year. The chart says 34,000 will be hard to overcome short term (gap objective) and then there is the moribund Japanese economy and political scene that gave us a stock index that is still lower 33 and half a years later, unlike virtually every other index. In the old days, a soaring Yen made the pain less. The recent action by the Bank of Japan hasn't boosted the Yen much, which is perfectly understandable since all they did was say they might raise interest rates a little above 1/2%. Time to take profits---it's unlikely the Japanese market will hold up better than bonds if the U.S. market finally comes out of this "Bubble Echo" faze. If you really want cheap, natural gas is a much better play.
After quite a bit of research, my personal opinion is that Checkpoint fulfills a number of the criteria. .
Same, many hours spent being confused over the P/E but maybe it's just measured differently
Same. Really the only one close that I find.
Also don’t forget that extreme negative carry (~550 bps/year vs the usd) and very low realized vol make it tough to be long yen - even at these absurdly low levels. On a long-term basis, USDJPY is most strongly correlated with US yields (not equities as so many like to claim). It simply appears like it’s correlated with equities because over the last 40 years, more often than not falling equities are accompanied by much lower Us yields - not the case the last 18 months. Long yen right now is kind of like being long US treasuries except that you get charged the coupon instead of paid it like with UST.
Thank you for Today's Haymaker. As was pointed out in the DFTC section, Jim Kramer is praising the Activity of the Magnificent Seven...A no better Kiss of Death could be provided than by listening to Mr. Kramer expound forthrightly about these Stocks...Wish I has a few Gs to buy puts on all of them!
The Nikkei was cheap but not so cheap after a greater than 30% rally this year. The chart says 34,000 will be hard to overcome short term (gap objective) and then there is the moribund Japanese economy and political scene that gave us a stock index that is still lower 33 and half a years later, unlike virtually every other index. In the old days, a soaring Yen made the pain less. The recent action by the Bank of Japan hasn't boosted the Yen much, which is perfectly understandable since all they did was say they might raise interest rates a little above 1/2%. Time to take profits---it's unlikely the Japanese market will hold up better than bonds if the U.S. market finally comes out of this "Bubble Echo" faze. If you really want cheap, natural gas is a much better play.