Of “What if’s” and “Wish fors.”

Of "what if's" and "wish fors."

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What if dollar yen was priced according to relative central bank balance sheets?

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The Dollar Rally, be careful what you wish for.

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Sorting

It's been a rough week for conventional wisdom in many forms. Markets are soring winners and losers from the wreckage of conventional wisdom.

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The S&P has re-synced with the Nikkei, closing the recent lag.

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Gold says dollar yen higher.

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Relative balance sheet size says dollar yen much higher.

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However, dollar strength depresses the balance sheet money pump denominated in dollars. A problem for stocks later.

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111216spxad

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