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Carry Liquidations Resume With A Vengeance
Global carry liquidations resume, only this time, with feeling.
The euro is plunging as usual, massively outperforming only regional non EMU currencies (time for Goldman to tactically close out all its regional long XXXUSD calls)
As the dollar is allegedly a flight to safety...
In reality, the carry unwind is the dominant force once again, as the funding currencies gets smacked
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Chroestjov would have liked these maps...
But wait, GS just told us that the EUR will be back to 1.35.....
Sitting on my hands and waiting for the backstopping to begin. Brother, can you spare $20 Trillion?
Tyler, can you post screens of the risk markets starting at 6am today (again)? There has been nothing more obvious, and predictable, than the 6am Broad buying across the board...
Lest anyone forget....today is options expiry in gold and silver. JPM targets seem to be 17.50 in silver (this wipes out all call buyers) 17.75 takes out most. so, go for the gusto boyz, the CTFC says with a wink and a nod.
gold the target appears to be 1180. if gold closes over 1200 our favorite megabank faces a world of hurt. So, i'm sure they will let the CTFC know if they need any help....technical "glitch", trading suspension, etc.
the options contract expires at 1:30 close.
post the close, watch the fireworks as JPM takes the foot off the neck of the metals.
ah, you seldom have the opportunity to watch and track manipulation. but this is now so breathtakingly blatant, .....
guess the CTFC figures we are all as blind as they seem to be.
unwashedmass is the go to source for the metals here. thanks for all the excellent input. you used to post over at the old Market Watch thread?