Good morning. The dollar is going parabolic in Asia vs AUD & KRW & so AUD is now 21% cheaper than the year started at, wait for it: 0.5585 to the dollar. 
Dollar vs majors: off the chart vs Krone, Peso, Real, AUD, ZAR, GBP, CAD KRW.
These are all very liquid currencies & they are being sold hardcore vs USD.
These are all very liquid currencies & they are being sold hardcore vs USD.
Give me some Kyat, Cedi, Egyptian Pound & Haitian Gourde!
Btw, these currencies are positive vs the USD because they are not liquid not because they are something you should pile into at the moment.
Btw, these currencies are positive vs the USD because they are not liquid not because they are something you should pile into at the moment.
Blood bath in Asia. This is a one day move of assets. The Philippines is -18.2% to catch up to the rest as markets were closed. Kospi -5.82% & FX is looking pretty intense.
Yields rising most for ID & MY & AU
Yields rising most for ID & MY & AU
Wrote a report last night:
Dollar Credit Crunch in Asia: Australia, Malaysia & Indonesia Most Squeezed.
Our analysis of foreign capital, income & depth of the "exit door" (as in depth of FX market), we found that AUD, MYR, and IDR most vulnerable to the dollar crunch!TW least!
Dollar Credit Crunch in Asia: Australia, Malaysia & Indonesia Most Squeezed.
Our analysis of foreign capital, income & depth of the "exit door" (as in depth of FX market), we found that AUD, MYR, and IDR most vulnerable to the dollar crunch!TW least!
And just like that, the Korean KOSPI is back to 2009 (-8% just today) 👇🏻👇🏻👇🏻🤢
Steepening of the curve after the RBA cut to 0.25% & aim 3-yr govie about 0.25% (buying govies to flatten up to 3yr to about 0.25%) through quantitative easing
rba.gov.au/media-releases…
rba.gov.au/media-releases…
BSP later: cuts coming too - 50bps. Markets down -12.3%.
HS 21344 & look at the market movers: massive downward moves: we're now back to 2016.
