mangy cat

Thursday Outlook: Commodities, Global Markets

great two hand gestures in lead photos
tim pushes
ben grabs

The Reflation Trade Portfolio

weston- "another issue with emerging market currencies is who are your counter-parties? Will they still be solvent and ready to pay you"

yep, but the problem is much nearer home
still no data on cew holdings, but quote:
"the fund utilizes investments in high-quality u.s. money market investments and forward currency contracts to achieve a risk-return exposure that is economically similar to money market
instruments denominated in the specified emerging currencies"

judging by fact sheets on individual currency etfs (cyb, szr, brl, etc) the "high-quality u.s. money market investments" it holds are likely to be
"citi triparty repos" and others with shittybank and freddy (kruger) mac

houston, we have a problem
and it ain't at the central banks in ankara, beijing and pretoria
it's much closer home at "high-quality" u.s. financial institutions

Grains Weather Outlook

mike
it ain't a farm labourer's strike in argentina
it's a lock out (or lock in to be precise, because behind the gates there is activity, but they don't ship to market)