This has sog tto be really frustrating for the yen bears, like Kyle Bass.
Throughout the last several months, certain dollar alternatives have moved in tandem towards all-time highs.
They’re all sold off of late.
You know, like gold:
Or the Swiss Franc:
or even Treasuries (which can’t really be a dollar alternative, but have moved the same way:
But then, the yen (note this is a chart of yen futures, not dollar-yen, which is how it’s normally depicted):
No decline at all! It’s been a rock-solid pillar of strength. Definitely something to watch to see if it keep sup.