Forget the VIX (VXX), JPY (the yen, FXY) is the market's new fear gauge, writes Randall Forsyth,...

|By:, SA News Editor

Forget the VIX (VXX), JPY (the yen, FXY) is the market's new fear gauge, writes Randall Forsyth, and its strengthening of late has been a sign stocks and commodities are dumping. The yen has been a favorite of the carry-traders forever, but Abenomics - at which its devaluation was promised - brought the play to a whole new level. A reversal means selling in everything from stocks, to gold, to emerging markets, to junk bonds.