Everyone is watching oil in dollars.
Almost nobody is watching oil in yen.
That's where the real risk is.
If Japan panics, the carry trade unwinds again — and this time it won't be a two-day event.
Full CNBC Squawk Box Asia breakdown: https://t.co/2TVyAOep08
$FMKT closed at $20.84 today, up 2.04% from yesterday.
As the first ETF specifically targeting businesses that benefit from deregulation, $FMKT continues to capitalize on companies thriving amid regulatory rollbacks.
VIX closed at 26.78.
India VIX surged 18.5% overnight. Kospi circuit breaker triggered.
Asian vol is exploding.
US VIX hasn't caught up yet.
Monday morning could be very ugly. $VIX $SPY
War is entering month 2.
No de-escalation signals.
More troops being deployed.
Kharg Island occupation being planned.
Markets priced a short conflict.
They haven't priced a long one. $SPY
Flash PMIs drop Tuesday.
First real-time data on what a $112 oil shock actually does to the economy.
Stagflation: high inflation. Slowing growth. No Fed relief.
The data will say what forecasters won't.
Watch closely.
India rupee: 94/USD.
Rs 80,000 crore of foreign capital pulled from India in March alone.
DXY near 100. Oil at $112.
That combination is an emerging market wrecking ball.
Few understand this.
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