A “Fed-less” Bank of Japan & European Central Bank

The Bank of Japan and the European Central Bank will hold their respective July policy announcements on the same day - while the Fed is in its pre-FOMC quiet period, providing an opportunity to see what policy changes and policy divergence between two of the largest major central banks looks like without the Fed.

Real Vision’s Global Markets Editor Weston Nakamura lays out the market picture through the lens of the euro and the yen, both of which have significantly weakened against the US dollar, but potentially tell a different story against one another.

Weston also examines futures markets on a global, cross-asset basis, from the point of March 7, 2022 - when various markets ranging from currencies, bonds, equities, and commodities, exhibited nearly identical price action simultaneously.

This leaves the question- to what degree are the BOJ and the ECB policy divergence priced in from a fundamental basis?

See Weston’s latest video on the Bank of Japan 2022 half-year review, an overview of the turmoil in the JGB markets, and what comes next. Watch “How the Bank of Japan Blew Up Global Markets in 2022” here:

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[Wetorp]

Me during video: Get to the point!
Me after video: What was the point?!

[p.p.papopapino]

Not to make people loose time, please include date of recording on title or clearly on video. This was quite a bit before airing date (Nord still closed, ECB hadn't hiked yet, etc.), and previous video as well. Thank you.

[aspencouloir]

Thanks Weston. If any big wigs from RV see this I hope they realize you’re probably the most underutilized asset on RV.

[masatoizumi]

Hey Weston, what's your take on the M-fund and Emperor's off-balance sheet assets? Do they exist?

[palatinaworks]

Hello Weston! I found your great video of Turkey and since then, I specifically watch all your videos. I have an MBA and I trade for 29 years now, currecies included. But sometimes, I am not so sure, if I fully understood everything there was in the video. Perhaps due to the fact that I am not a native speaker or... I don't know. I think sometimes just one simple note or line or arrow in a chart would help me, or one additional sentence for the lame ones would help me to catch up. I have the feeling I am not the only one who feels a bit left behind. Thanks a lot in advance! Andreas