Beijing has spent a trillion dollars supporting the Yuan since the Fed started withdrawing liquidity. Trump wants them to stop...
S&P opening downside gaps with Chinese Yuan:
Any questions?
Speaking of ignored risks, here is the current positioning across various asset classes:
Bond short exposure
Junk stock exposure
Bank exposure
Oil exposure
Mutual fund cash balances
Bearish assets
Option hedging. Or not...
Active Manager risk exposure
"Don't worry, we're smarter than the rest of the world combined"
U.S. versus world:
