All of the dreams and fantasies of the Bank of Japan Governor, Haruhiko Kuroda, are coming true–at least for today. The yen is falling in spectacular fashion, much to the delight of yen carry trade gamblers, positioned long equities. With the yen dropping by 1.4%, trades have become indelibly profitable from recent levels and it might be time to up the leverage, ahead of the BREXIT results.
It’s worth noting, however, gains in Europe are fading, as traders tuck tail and run ahead of the BREXIT results. Who can blame them, really? The DAX was up more than 2%, now higher by 1.1%. The Italians and their MIB don’t give a shit, still up, whilst drinking wine, by 2.5%
U.S. markets just opened, higher by 155.
Happy BREXIT day.
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Hopefully you won’t stay too bearish in the future I like the positive Fly!!
I used to be permanently bullish.