Macro

IMF Warns Dollar Stablecoins Could Heighten Currency Crisis Risks in Fixed Exchange Rate Economies - Sada Elbalad english

―

DW NOTE

The IMF has discovered that pegging your currency to the dollar while allowing citizens to hold dollar-denominated assets creates exit risk. Fixed exchange rate regimes fail when the peg becomes untenable — stablecoins just give savers a faster exit door than queuing at the bureau de change. Argentina's peso collapsed six times with or without blockchain; the technology is incidental to the insolvency.

Read the full story at Sada Elbalad english →

The custody question: where are central banks storing gold? - OMFIF

Saudi Oil Exports Plunge as Spread of War Shuts Off Shipping Routes - The New York Times

Bessent & Sovereign Debt Crisis

QUESTION: Marty, Bessent is plainly no trader. As you’ve pointed out, he’s spent far too long in the company of market manipulators. I remember your warning that rolling debt into shorter maturities only deepens future fragility. And as you put it, it’s Groundhog Day on repeat. So the question is: d

10-Year Yield Hits Multi-Year High, Long Bond Tops 5.3 Percent, Oil Surges

It's not a good day in the markets, Here's a recap.

Read more

The custody question: where are central banks storing gold? - OMFIF

Saudi Oil Exports Plunge as Spread of War Shuts Off Shipping Routes - The New York Times

Bessent & Sovereign Debt Crisis

10-Year Yield Hits Multi-Year High, Long Bond Tops 5.3 Percent, Oil Surges