The Devaluation Of The Yen and Global Carry Trade
LIVESTREAM/PROPIETARY REPORT
The Devaluation Of The Yen and Global Carry Trade
Capital Flows has a new daily structure where I will do a stream every market session, breaking down the macro regime so that you have clarity on WHERE we are and conviction on WHAT to do.
The first section of today’s live stream traced the entire global carry trade from Japanese demographics all the way through to global volatility spikes, and laid out exactly how the yen carry trade wires Japanese monetary policy into global markets. If you were trying to understand the mechanics of how a deflationary savings glut in Japan flows through the BOJ, the savings glut, and capital exports, and why this sits underneath the broader risk picture right now, this video explains all of it.
You can find the free recording on the Global Carry Trade Playbook here in the YouTube video.
The previous videos I did 5 months ago, laying out the bearish Yen view, can be found below. I am using the same models and strategy to map the flows today because the thesis is not the same as it was 5 months ago.
The last three livestreams and proprietary reports contextualizing today’s price action can be found here (if you are long Hyperliquid or the S&P 500, you should read these):
Macro Decks From today’s stream:
All slide decks by Jaymes: LINK
Deck from today:
Monday’s Livestream: Systematic Flows and Market Microstructure
The livestream for Monday (no stream tomorrow) will dig into the developing market microstructure in the market today. This is critical as passive flows have surpassed 50% of market share, and 0dte volume is at all-time highs. The market microstructure frames HOW large players execute macro flows, so the livestream will get to the heart of WHY these are critical to understand.
Paid subscribers can join the livestream with this link:
Proprietary Report On The Devaluation Of The Yen and Global Carry Trade:
Here is the proprietary report explaining HOW the Yen carry trade flows are functioning right now:
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