Cross-Currency Basis: The Price of Dollar Scarcity & FX Swaps
Understanding the Cross-Currency Basis: why Covered Interest Parity (CIP) fails, the mechanics of FX swap borrowing, and detecting global offshore dollar shortages.
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Pillar VIII: Global Dollar, FX & Cross-Border Capital Flows
Foreign Official Treasury Holdings, TIC Data & NY Fed Custody Trends
How foreign central banks manage U.S. debt holdings, reading the monthly TIC capital flow reports, and monitoring weekly Foreign Custody data at the NY Fed.
Japanese Government Bonds (JGBs), BOJ Policy & Global Yield Spillovers
How Bank of Japan Yield Curve Control (YCC) exit and rising JGB yields impact the multi-trillion-dollar Japanese capital repatriation from US Treasuries and European bonds.
U.S. Dollar Index (DXY) Explained: Global Macro Impacts
Basket weighting, Stephen Jen
The Global Dollar Liquidity Cycle & Eurodollar System
How the offshore Eurodollar market, cross-currency basis swap spreads, and Fed central bank swap lines drive global liquidity.
The Current Account Deficit & The Triffin Dilemma
Why the U.S. must run perpetual trade deficits to supply global reserve currency liquidity, and the capital account surplus mirror.
The Yen Carry Trade Explained: Mechanics & Unwinds
How zero-interest rate yen funding trades function, what triggers catastrophic unwinds, and the global volatility feedback loop.
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| # | Guide Title & Core Focus | Institutional Domain | Read Time | Action |
|---|---|---|---|---|
| 71 |
Cross-Currency Basis: The Price of Dollar Scarcity & FX Swaps
Understanding the Cross-Currency Basis: why Covered Interest Parity (CIP) fails, the mechanics of FX swap borrowing, and detecting global offshore dollar shortages.
|
Global Dollar & FX | 7 min read | Open → |
| 72 |
Foreign Official Treasury Holdings, TIC Data & NY Fed Custody Trends
How foreign central banks manage U.S. debt holdings, reading the monthly TIC capital flow reports, and monitoring weekly Foreign Custody data at the NY Fed.
|
Global Dollar & FX | 7 min read | Open → |
| 73 |
Japanese Government Bonds (JGBs), BOJ Policy & Global Yield Spillovers
How Bank of Japan Yield Curve Control (YCC) exit and rising JGB yields impact the multi-trillion-dollar Japanese capital repatriation from US Treasuries and European bonds.
|
Global Dollar & FX | 7 min read | Open → |
| 74 |
U.S. Dollar Index (DXY) Explained: Global Macro Impacts
Basket weighting, Stephen Jen
|
Global Dollar & FX | 6 min read | Open → |
| 75 |
The Global Dollar Liquidity Cycle & Eurodollar System
How the offshore Eurodollar market, cross-currency basis swap spreads, and Fed central bank swap lines drive global liquidity.
|
Global Dollar & FX | 6 min read | Open → |
| 76 |
The Current Account Deficit & The Triffin Dilemma
Why the U.S. must run perpetual trade deficits to supply global reserve currency liquidity, and the capital account surplus mirror.
|
Global Dollar & FX | 6 min read | Open → |
| 77 |
The Yen Carry Trade Explained: Mechanics & Unwinds
How zero-interest rate yen funding trades function, what triggers catastrophic unwinds, and the global volatility feedback loop.
|
Global Dollar & FX | 6 min read | Open → |