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MI2 for C8 – JPY Liftshaft Alert

BY JON WEBB
There is a window emerging for position reduction in the widely held JPY carry trade. Positions are crowded at the same time that the rationale for the extension of the current benign regime is diminishing (carry, carry-to-vol, policy divergence, etc). There is no sense of danger within analyst expectations or embedded in option pricing. While we lack an immediate catalyst, sometimes price can be its own trigger. With USDJPY around 156 and an easily defined stop loss, the risk reward of engaging with JPY strength is compelling. Escalator / liftshaft price action provides significant convexity. Crowded JPY shorts would also need to be covered in the event of a risk-off catalyst coming from other asset classes. Owning USDJPY puts can be an attractive portfolio hedge for investors concerned about general market complacency or for more active tactical FX managers and traders. Read more →

C8 Weekly Bulletin:  Trendrating on US Bank Stocks

BY JON WEBB
C8 Technologies are delighted to announce that Trendrating will be adding 7 US and European equity indices to C8 Studio. They have been working with investors over the past 10 years to enhance equity portfolios, using a proprietary methodology which focuses on determining the ongoing trend in individual equities. Trendrating have just produced a timely report on US bank stocks which they have kindly allowed C8 to share. This illustrates that, whilst the Silicon Valley Bank failure had idiosyncratic issues, investors perceive a much wider problem with smaller US banks.  Read more →

Oh My! Trump Tariffs, State of the Union, ISM Services Data

BY TEMATICA
What will Fed Chair Powell say on Friday? Read more →
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