tag:blogger.com,1999:blog-34323687.post2213843011317585875..comments2024-03-29T09:24:42.731+00:00Comments on Macro Man: Friday the 13thMacro Manhttp://www.blogger.com/profile/12324967552369915949noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-34323687.post-63114790489795943602007-07-16T21:29:00.000+01:002007-07-16T21:29:00.000+01:00As most regular readers will know, I refer to the ...As most regular readers will know, I refer to the various central banks/monetary authorities/sovereign wealth funds who accrue dollars via the sale of RMB, RUB, INR, oil, etc. and then take some of those dollars and buy euros, sterling, etc.<BR/><BR/>These cats are the biggest players in the EUR/USD cross, and when they have their buying boots on, let's just say it has a tendency to go up.Macro Manhttps://www.blogger.com/profile/12324967552369915949noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-91063725227046929592007-07-16T16:37:00.000+01:002007-07-16T16:37:00.000+01:00MM,Last you mentioned portfolio allocation managem...MM,<BR/><BR/>Last you mentioned portfolio allocation management as a reason to buy EUR/USD<BR/><BR/>There seems to be no respite to $USD. Its making new lows each day.<BR/><BR/>Could you enlighten us with the reason/ppl behind these sellingAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-632803136269876772007-07-15T09:18:00.000+01:002007-07-15T09:18:00.000+01:00Yeah,I originally wrote "an army of 22 year old Ja...Yeah,I originally wrote "an army of 22 year old Japanese housewives" but realized that Mrs. Macro might not be too pleased to read it...Macro Manhttps://www.blogger.com/profile/12324967552369915949noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-61909860246682611992007-07-13T17:22:00.000+01:002007-07-13T17:22:00.000+01:00There is no fear in this system because the govern...There is no fear in this system because the government has made very clear that they stand ready to inflate like crazy. Thus moral hazard has increased like crazy. I think that most people are placing too much faith in the governments ability to fix things if something goes wrong, but so far they have been right.Jameshttps://www.blogger.com/profile/12183085827525696523noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-29031058786779041792007-07-13T14:13:00.000+01:002007-07-13T14:13:00.000+01:00An army of 22 year old Japanese housewives in the ...An army of 22 year old Japanese housewives in the office might be distracting...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-61775637646428540602007-07-13T13:02:00.000+01:002007-07-13T13:02:00.000+01:00You make interesting comments about the younger se...You make interesting comments about the younger set and their lack of worry. But it's more than them now--the absence of fear is pretty widespread. I know that it is late-cycle, and I should expect to get lonely here, but that doesn't make it easier. I'm nagged by the notion that maybe it really is different this time, and (insert newest hot item here) won't get in financial trouble. So I spend too many early morning hours trolling the blogoshere for kindred souls who also believe that there are in fact some monsters under the bed. <BR/><BR/>Great blog, by the way.<BR/><BR/>KeithAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-86729895639167907582007-07-13T12:24:00.000+01:002007-07-13T12:24:00.000+01:00Not a bad plan handing it all over to a fleet of t...Not a bad plan handing it all over to a fleet of trend followers probably not all that influenced by blips on American news wires. How do you translate 'sub-prime', anyway?<BR/><BR/>The fact is that the total dominance of the United States as a source of news (if not information, per se) has yet to reflect the less-dominant-than-before position of that country as a source of investment money.<BR/><BR/>...this a mere subset of my guess that, since 9/11 - if only to pick a date, we are all seeking our epiphanies in the places where they no longer reside.<BR/><BR/>Cheers.Charles Butlerhttps://www.blogger.com/profile/00486529931043507880noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-40902148336289095502007-07-13T11:59:00.000+01:002007-07-13T11:59:00.000+01:00The evolution of credit spreads seems key to it al...The evolution of credit spreads seems key to it all.<BR/><BR/>To the degree that housing has been ground zero for the emerging credit deterioration, two things are surprising:<BR/><BR/>a) How early it started – when you think about it in the context the continuing debate re the impact of mortgage credit and housing equity on the rest of the market, the issue seems to have been around for quite a while already, particularly given the persisent buoyancy of everything else<BR/><BR/>b) How slow its been – its still being debated, and an important quantum of mortgage resets remains to come<BR/><BR/>Have faith in lags?Anonymousnoreply@blogger.com