Markets Weekly May 4, 2024

#federalreserve #marketsanalysis
US Labor Market Softening
QRA Debrief
Japan Finally Intervenes (twice!)

00:00 - Intro
1:10 - US Labor Market Softening
4:49 - QRA Debrief
10:25 - Japan Finally Intervenes (twice!)

For my latest thoughts:

For macro courses:

My best seller on monetary policy:

[SUNNYMOON]

Thank you Joseph for explaining all important events each week in plain english, always clearing up any confusions I might have.

[Fast]

Thanks Mate, the sad truth is that no one has a clue, we all react to what happens as it happens and try to analyse it but can’t predict an iota of what is going to unfold in the markets… content creators are like amplifiers, when times are good they affirm it and try to tell you why it’s good and that it’s looking bullish but then all of a sudden the market turns bearish and everyone affirms it again and try to analyse why… it’s so sad that many are so powerless and it's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 2.3Bitcoin to a decent 19Bitcoin in the space of a few months... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[joshuaburns]

Deflation and they'll move in 2 seconds. Inflation? We can take as many years as we want to get to 2% "over time" It's no problem that prices go up 20% before we get to 2% whenever.. as the quality of everything goes straight down the toilet and middle class continues to go down the tubes..

[masonsteed]

Was super excited to hear what you had to say about Japan. I appreciate you showing the way that that all works in foreign official reserves and foreign RRP

[Jeff__M]

I eat lunch every Saturday and listen to this. I love it. Joseph you a talented person! Thanks for the free sauce every week! 🤙

[IKTGWIW]

Thank you, Joseph, for the educational content every week.

[tastypymp]

I assume that a large bulk of USD reserves are held in US bonds. Therefore if Japan did decide to seriously intervene then that could seriously impact the US bond market and raise yields. This seems to risk neutralising the MoTs interventions as it encourages the carry trade? But then the FX risk might be a further disincentive.

Therefore the BoJ, not wanting to significantly raise their rates, really seems to depend on the Fed becoming more dovish.

This is certainly a conundrum.

[Lights_Darks]

Thanks, Joseph. Always look forward and appreciate your perspective.

[chrisp]

Joseph, my friend, thank you for your tireless dedication to your viewership! Your midweek Fed video was excellent and as usual, youre comments on all the other important macro events this week are spot on. ❤ Thanks again!

[EsaMononen]

love your coverage and work. this is, really useful

[kkiller]

May the 4th have been with you, yesterday. - Wobi-Kan Enobi

[engrahmed]

💥know that we all appreciate your effort for educating us. thank you

[AllNighterHeider]

So consistent with the videos, better than me.
Thank you so much JW

[Red]

@Joseph. On the IMF chart at the 17 minute mark in your video, I observed Japan increase from 3.0 to 3.4. 13% increase. Now i observe Canada from 451 to 1265. 280% increase. My question from that observation is what does that data point difference tell me? Can you briefly explain the 'so what' in that huge difference in IMF importance?

[donragnar]

All my friends lose their jobs and their families become destitute so that my stock holdings go up. The American dream! The true role of the FED is to ensure that the working man and his family bag hold for their Keynesian friends that make the big money. When inflation starts to make the working mans wage go up nominally, that's when they start fighting inflation (by then their Keynesian friends have already taken profit and sit in the US dollar, waiting for asset prices to find a relative bottom for the process to start again).

[jeffreychandleton]

Quality and consistency... you're the man Joey. And thanks for covering the QRA.

[peterbedford]

I remember when the JPY was around 250 to the USD

[broersverband]

what market you are talking about the lies and the mauplutions from the FED and the us gov

[scottsiegel]

I think your talks are extremely informative but how about creating a nice back ground rather than a blank white screen? You're a smart guy, Im sure you can be more creative than that. Utube has so many scenes with fire places, snow, etc.