Scott Bessent on the yen: “I have information that the market doesn't have, and it's my belief that the Japanese government and that the BOJ will do the things that will lead to a stronger yen”
BESSENT = BIG PLAYER = THINKS HE KNOWS MORE THAN THE MARKET.
My latest in @FortuneMagazine on Venezuela's worthless oil reserves:
"Venezuela's depletion rate sits at 0.124% per year, indicating that it would take 558 years for PDVSA’s reserves to be halfway depleted... if you have to wait 558 years to produce and sell a barrel of oil,
As a potentially historic Super El Niño takes hold, drought is forcing the Panama Canal to cut maximum daily vessel transits by more than 11% by mid-September.
ANOTHER GLOBAL COMMODITY CHOKEPOINT IS NOW AT RISK.
#IranWatch🇮🇷: The rial's FREEFALL continues. Today it hit ANOTHER NEW ALL-TIME LOW.
Today, it DEPRECIATED 2.50% against the USD overnight.
Over the past two weeks, the rial has DEPRECIATED 11.65% against the USD.