Thread by @Trinhnomics

Good morning 🌞 - up early for an exciting Wednesday💪🏻. Okay, overnight:
a) US retail sales slowed but core (exauto, gasoline, good & building materials) jumped to 0.7%!!!
b) JPO says eco solid but leans on external & trade-war to help w/ what markets hope is an “insurance” cut🤞🏻

That said, USD strengthened as rate cut PRICED IN 👈🏻 & guess what? The nightmare before Christmas, or shall I say Brexit is making headlines to weaken sterling & EUR et al as markets price in a HARD BREXIT, well, increasingly. Btw @natixis & @NatixisResearch calls for a HARD 👈🏻

Good should be food 🥘🤗

I use calls vs call as both are part of one company 🤷🏻‍♀️

@natixis @NatixisResearch Let's follow the $: @USTreasury holdings by foreigners 📈USD105.5bn & they bought T-bonds & notes &sold Treasury bills. Who sold?
a) China 🇨🇳 sold 2.8bn to 1,110bn
b) Don't worry, Japan🇯🇵picked up the slack & bought 37bn to 1,101bn (Japan likely to exceed China in holdings soon)

@natixis @NatixisResearch @USTreasury A couple things too: due to negative interest rate policy (NIRP), it seems that European holdings of UST up a lot lately and so u see France & Germany buying more US gov debt in May👇🏻. Seems like a lot of people are picking up as China sells more @USTreasury , esp Japan🇯🇵 w/ NIRP

@natixis @NatixisResearch @USTreasury Here is a joke, well, a central bank policy joke.

Knock knock: Who's there?
NIRP!
NIRP wut? NIRP who loves PIRP???

Okay, 🧀, I knowwww. But totally a true story that NIRP loves PIRP & as they hunt for yield 🎯☺️🤷🏻‍♀️