Gary Haubold Disagree. Foreign government assets do not enjoy the protections of the Takings Clause or analogs. As to sovereign immunity, you get that back when you recognize the sovereignty of other countries.

reason.com/volokh/2024/04…

Great reminder from Joseph Wang that the Fed has 3 mandates ... the famous dual mandate is one short of the truth.

Gary Haubold Elbridge Colby China always has been paranoid about lacking raw materials. We have no idea what they ever have in inventory - and it totally disrupts pricing.

Elvira Nabiullina may be one of the best central bankers in the business:

UBS playing with numerical 'What if' on potential gold demand if all central banks loaded up on metallic reserves, via The Market Ear

$CVX earnings were good but the stock is off about -0.5% in premarket trading (which isn't always an accurate indication)

Gary Haubold I learned a new word today: kakistocracy. I never think I will use it that fast....

Live Monitor Gary Haubold So...uhhh...yeah haha

Gary Haubold Bond market.....yields are going way....way higher.....

Live Monitor Gary Haubold Already up .60% premarket. Nice call if this holds!

Gary Haubold Quote Investigator® Jim O'Shaughnessy 'Survival of the most viral'--a most accurate observation given the rise of social media. I bet Darwin would embrace that.

Jarrott Heath Gary Haubold Jarrut, in Finnish, means Breaks, of car, bicycle, etc.

Gary Haubold Luke Gromen It's Different this Time Really...And I was under the impression that BTFP was coming to an end...hmmm.

Gary Haubold Yes

The scale of this UAW win at the Volkswagon plant suggests it's not a one-off event. The zeitgeist may be shifting a bit, with import for autos, inflation & maybe even politics down the road.

Interesting speculation from Andy Constan on Japan's MOF & Yellen. Lots going on with the Yen right now

Gary Haubold Rob Somerville yup

Gary Haubold Jarrott Heath In Swedish, the letter Y is pronounced like the German ü, über.
All Germanic languages have vocals as ü,ä,ö= umlauts.
Same as Hungarian and Finnish which are relative languages.
I'm Greek. My children half Hungarians. Is very difficult to pronounce ü,ä,ö in a word.

Gary Haubold The Macro Guy The MOF will lose absent BOJ cooperation.