Yen Carry-Trades unwinding rapidly, global asset-prices collapse

[k1976]

Japan Set for Yet Another New Leader as PM Kishida Steps Aside​

• Kishida due to hold news conference at 11:30 a.m. local time
• Winner of LDP race all but assured of becoming next PM

By Isabel Reynolds and Yoshiaki Nohara
August 14, 2024 at 9:35 AM GMT+8
Updated on
August 14, 2024 at 9:48 AM GMT+8
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Japanese Prime Minister Fumio Kishida won’t run for a second term as leader of the long-ruling Liberal Democratic Party in September, opening the door for a new party member to take over the post of premier.

Kyodo News and national broadcaster NHK on Wednesday cited government sources as saying Kishida will not run in the LDP race. Kishida is due to hold a news conference at 11:30 a.m., Kyodo reported.

 

[k1976]

Iran rejects western plea not to launch retaliatory attack against Israel​

Jason Burke International security correspondent
Wed, 14 August 2024 at 12:38 am SGT4-min read

A billboard in Tehran shows the late Hamas leader Ismail Haniyeh (left) joining hands with the Iranian president, Masoud Pezeshkian.Photograph: Vahid Salemi/AP

Iran has rejected western calls not to retaliate against Israel for the killing in Tehran of Ismail Haniyeh, the political leader of Hamas, late last month.

“Such demands lack political logic, are entirely contrary to the principles and rules of international law, and represent an excessive request,” Iran’s foreign ministry spokesperson, Nasser Kanani, said.

A report on Tuesday from the official IRNA news agency said President Masoud Pezeshkian, in a phone conversation late on Monday with the British prime minister, Keir Starmer, said that the west’s silence about “unprecedented inhumane crime” in Gaza, and Israeli attacks elsewhere in the Middle East, was “irresponsible” and encouraged Israel to put regional and global security at risk.

 

[k1976]

Kishida’s Exit Clears Path for Higher BOJ Rates, Strategists Say​

Fumio Kishida Photographer: Philip Fong/AFP/Bloomberg
By Hideyuki Sano and Yasutaka Tamura
August 14, 2024 at 12:31 PM GMT+8
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Japanese Prime Minister Fumio Kishida’s decision to not run for a second term may clear the way for a new leader who is supportive of the central bank’s efforts to normalize policy, according to market strategists.

Among top contenders for leadership in the election for the presidency of the ruling Liberal Democratic Party in September are former defense minister Shigeru Ishiba, minister for digital transformation Taro Kono, party heavyweight Toshimitsu Motegi and minister for economic security Sanae Takaichi.
https://www.bloomberg.com/tips/

 

[k1976]

Central banks dump dollars and yuan in favor of gold​

The 'stateless currency' shines as a haven amid geopolitical tension

According to the International Monetary Fund, as of March 2024, the total balance of global foreign reserves stood at $12.3499 trillion, with the dollar accounting for 58.9% based on currency allocation. © Reuters
YOHEI HIROSE, Nikkei staff writerAugust 10, 2024 12:15 JST

TOKYO -- Central banks are diversifying away from the dollar and yuan while loading up their foreign exchange reserves with a "stateless currency," gold, in a nod to intensifying geopolitical tensions and global economic uncertainties.

The proportion of the U.S. currency in global foreign reserves has dropped significantly, from over 70% in the early 2000s. Currently, the dollar's share of foreign reserves held by central banks and governments worldwide sits at a historic low. China's currency is also trending lower.

 

[k1976]

There is a big potential downside when the U.S. uses its economic privilege to bend other countries to its will.​

Trading Dollars for Gold​

Using dollars as weapons may seem like an effective way to keep the “bad guys” in line, but it comes with risk. Consider this - if you recognize something makes you vulnerable, what do you do?
If you’re smart, you take steps to eliminate or at least minimize that vulnerability.
So, if you’re worried that the U.S. and its allies might cut off your access to dollars, what would you do?
Minimize your dependence on dollars. In other words, if you are concerned that the U.S. could pull the "dollar rug" out from under you, why not pull out from the dollar system first?
This is already happening.
And if enough countries diversify away from the dollar, it could ultimately undermine the greenback’s role as the world reserve currency.

 

[Dr Christopher Cheok C S]

A FED rate cut could trigger a market sell-off due to the unwinding of Japanese carry trades.

 

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https://finance.yahoo.com/news/targ...tail-stocks-making-moves-today-155046926.html

US employment falls by 818,000 in latest government revision​

Josh Schafer
·Reporter
Updated Wed, Aug 21, 2024, 11:12 PM GMT+83 min read

The US economy employed 818,000 fewer people than originally reported as of March 2024, showing the labor market may have been cooling long before initially thought.
The revisions are a yearly practice from the Bureau of Labor Statistics; final revised numbers are expected to be released early next year.
The report, released Wednesday morning, showed the largest downward revisions to the professional and business services industry, where employment was revised down by 358,000 during the period. Leisure & hospitality saw the second-largest downward revision of 150,000.

The report moves down the monthly job additions seen in the US economy over the time period to 174,000 from 242,000.
"Despite this big downward revision, that's still a very healthy growth rate in terms of the monthly jobs added to the economy," Omair Sharif, Inflation Insights president, told Yahoo Finance.

Furthermore, economists cautioned ahead of the release about how much investors should read into the print given its backward-looking nature.
"The realization that the economy created fewer jobs than initially estimated [does not] change the broader trends in GDP growth, stock market and wealth gains, and consumption," RBC Capital Markets US economist Michael Reid wrote in a note to clients on Aug. 16.
This release comes at an important time for labor market data, as recent signs of slowing have prompted economists to argue the Federal Reserve's current monetary policy stance is too restrictive.
A weak July jobs report helped tilt the focus toward the slowing labor market. The report showed the second-weakest monthly job additions since 2020 and the highest unemployment rate, 4.3%, in nearly three years.

 

[syed putra]

The economic fundamentals of Japan are not strong.

It is homogenous society facing rapidly rising aging population. The costs of healthcare are high, are born by the few remaining young, which in turn needs higher salaries to sustain, along with higher govt tax regimes to biz entities, to keep revenues streaming for its high costs of social expenditures...

There is a price for being 'exclusive' & unless it opens its doors to immigration or foreign labor, to boost up economic strengths as the Japanese are a hardworking & intelligent ethnic group, demise as a Japanese civilization is on the cards....

It needs not fear immigration so long as it learns the lesson of Europe. During the wars that plagued the Middle East, Europe open its doors & welcomed immigrants out of compassion but a CRITICAL MISTAKE it made was NOT to prohibit those immigrants from bringing along their cultures that FAILED their own nation, & thus the quagmire Europeans face today.

Every NEW immigrant to Japan MUST adopt the Japanese culture & way of life, give up their past, & pledge total allegiance to the democratic nation of Japan. Thus such measures, along with the Japanese work attitudes, perhaps one day USD/JPY will reverse back & beyond under 100.....

Many muslim migrants to europe are probably wanted men in their original country. They left to escape prosecution. Europe should have taken only skilled or professionals in.

 

[liamricci]

I don’t pay much attention to those people and the trivial things they’re caught up in. Right now, my focus is on completing my second degree, and I’m grateful for the assistance I’m getting from https://academized.com/term-paper-for-sale. Their support has been invaluable in managing my academic workload, allowing me to stay on track despite the pressures. My family is eagerly looking forward to having me spend more time with them again once this intense period is over.

 

[k1976]

How China and Russia Stack against AMDK Pokkai Nations?

 

[k1976]

Rank	Country	Gold Reserves (Tonnes)	Gold Reserves (Millions $)	Holdings %
1	United States of America	8,133.46	609,527.85	72.41
2	Germany	3,351.53	251,166.13	71.46
3	Italy	2,451.84	183,742.52	68.33
4	France	2,436.97	182,628.35	69.99
5	Russian Federation	2,335.85	175,050.59	29.47
6	China	2,264.32	169,689.52	4.91
7	Japan	845.97	63,397.87	5.15
8	India	840.76	63,007.20	9.57
9	Netherlands	612.45	45,897.75	61.61
10	Turkey	584.93	43,834.93	0
11	Portugal	382.66	28,677.06	74.08
12	Poland	377.37	28,280.52	13.49
13	Uzbekistan	365.15	27,364.77	75.2
14	United Kingdom	310.29	23,253.15	13.44
15	Kazakhstan	298.8	22,391.95	56.04
16	Spain	281.58	21,101.64	20.16
17	Austria	279.99	20,982.76	63.21
18	Thailand	234.52	17,574.99	7.83
19	Singapore	228.86	17,150.61	4.49
20	Belgium	227.4

 

[Narong Wongwan]

The Nikkei has recovered from the lows
V shaped rebound

 

[k1976]

The Nikkei has recovered from the lows
V shaped rebound

Bao Jiak all Debt Collateral Assets for tgese Yen loan liao. Mission accomplish...time for BOJ Round 2 Rate Hike

 

[mahjongking]

it is fair to say these traders got CARRIED away........free lunch for a long time already....now carried to Holland