Alvaro Molas

[Alvaro Molas @AlvaroMolas]

@LukeGromen Are there other mechanisms to balance debt without relying on commodities like oil, gold, or BTC?

[Alvaro Molas @AlvaroMolas]

@michaelxpettis Fascinating breakdown. Given the arithmetic constraints you outline, do you see a path where global manufacturing shares could rebalance without leading to significant trade tensions or economic disruption? Could regional trade agreements or supply chain specialization help?

[Alvaro Molas @AlvaroMolas]

USDs are fungible.

Too strong USD will eventually drive selling of USTs & US stocks

Falling stocks drives US receipts down, UST issuance up, sending rates higher still.

Is this something US can keep doing?

[Luke Gromen @LukeGromen]

"Foreign Ownership of USTs hits record high"

Japan & China sold m/m, & the only OPEC nation on the list is Saudi (at #17).

UK is #3 (twin deficit nation), Caymans is #4 (owns $420B; "420" is a good description of Caymans being US' 4th largest foreign creditor), Luxembourg #5.

[Luke Gromen @LukeGromen]

"Foreign Ownership of USTs hits record high"

Japan & China sold m/m, & the only OPEC nation on the list is Saudi (at #17).

UK is #3 (twin deficit nation), Caymans is #4 (owns $420B; "420" is a good description of Caymans being US' 4th largest foreign creditor), Luxembourg #5.

[Luke Gromen @LukeGromen]

@jacobotweetsnow USDs are fungible.

Too strong USD will eventually drive selling of USTs & US stocks

Falling stocks drives US receipts down, UST issuance up, sending rates higher still.

And US govt cannot afford >4.8-5.0% on 10y & will print USDs to stop that (have repeatedly done so)

[Alvaro Molas @AlvaroMolas]

@LaVanguardia No me parece raro por vuestra parte, un periodico cada vez menos objetivo

[Alvaro Molas @AlvaroMolas]

Thrilled to head to NYC for an incredible week with @iesebschool, diving into insights from top finance leaders. Can’t wait to learn from the best! Thanks @davidteeters for this amazing program! #IESE #IESENYC

[David Teeters @davidteeters]

On November 4-8, 48 IESE MBAs will descend on NYC as our classroom for an intense week-long applied macrofinance class on the future of the international monetary financial system. With academic content built on Zoltan Pozsar’s Bretton Woods III framework, we will meet with leading financial market participants to construct our own forward-looking model to make sense of what is going on around us. Follow along on the adventure here on X at #IESENYC!

[Alvaro Molas @AlvaroMolas]

#UERiCIAzero;T3107;LIFE