Stablecoins and Treasuries: A Fragile Funding Link Investors Can’t Ignore
An underappreciated corner of crypto is shaping US government debt markets. Stablecoins,…
Currency Coordination Looks Riskier Today
The Taiwan dollar’s rapid appreciation in the second quarter led to speculation…
Global Fungible Money Flows Heighten Volatility Risks
Rapid yen appreciation in this year’s third quarter attracted policy attention when…
Global Supply Chain Transformation: Uncertainty and Opportunity
Economic data reflect global supply chain restructuring. Nearly two years into the…
Is the Copper–Gold Ratio a Dependable Leading Indicator on Rates?
The Copper–Gold Ratio and Dollar Effects Institutional asset managers use the copper–gold…
The Yen’s Downside Risk Persists Despite BOJ Shift
The Bank of Japan (BOJ) widens the 10-year yield trading range. The…
Demand Destruction? Two Reasons to Be Skeptical
Demand Destruction ≠ Disinflation Global central banks have made an “all-in” effort…
