In these volatile and uncertain times, we believe that it is the most safe in the world Japanese only. Zach Pandl of Goldman Sachs told Bloomberg. Dollar This position is not available now, because the demand in american economywhat exactly is what he wants to achieve Fed. Cooled down americkho economy is thus the main reason for the expert does not consider it the safest currency dollarbut first Japanese only.
Bloomberg accompanied the interview with the following graph, which he compared vnosy ptiletch vldnch obligac v USA a kurzem yenu k dollar. Only in recent days it has weakened and the chart is evident that the team is copying the regrowth entry americkch vldnch bond:
Source: Youtube, Bloomberg
I’m witnessing euros The expert replied, e rates they go up as in euroznso in USA. A big change in terms of the international flow of the capital, however, could be that ev Europe se vnosy get from negative to positive sel. On the other hand, it is in Europe risk associated with geopolitical conflict. It is definitely decisive, but the best estimate is now the need for a long period euro v, Pandl added with tm, e his business currently not actively recommended for positions at euro vi dollar.
Regarding the decline in the balance sheet Fedu and quantitative tightening QT expert stated that the overall is likely to move to a period when it will inflation compared to how they were inflate pressures during the last twenty let. That sign, e rates a vnosy the bond will be general in central bank they go towards QT. The following graph shows how Fed dreamed of his purchases bond and how his balance sheet should decline in the following months. According to Bloomberg, it should be an average of 80 billion dollar a do year 2024:
Source: Bloomberg, Youtube
In connection with the new development, Bloomberg changed the analysis, according to which, after reaching the top of dollar usually time leads akcim on developing markets. In connection with them, Pandl changed that according to Goldman Sachs, the economic situation in the third quarter of this year should improve. n. The following chart compares stock market performance in developing countries and dollars index:
Source: Bloomberg, Youtube
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