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Podcast: Market Depth
Episode: People's Bank Of China Is Running Without A Governor
Description: In today's episode, Weston Nakamura explains the recent price action of the world's worst performing currencies in 2023: the Japanese yen's sudden surge as options on futures expire and crowded positions close, and the Chinese yuan in crisis mode as the authorities continue to urgently exercise multiple yuan-supportive measures. Weston suggests that should the yen short covering gain momentum, global yields may fall in tandem.Lastly, Weston follows up on his recent and ongoing thesis of the leadership shakeup currently underway at the People's Bank of China with additional thoughts - namely, why the central bank is currently...