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Toto deVeer

Hugh Hendry Takes A $2 Billion Short Position Against Japanese Industrial Debt

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Hugh Hendry, just back from Japan, has decided to place a big short position against Industrial Bonds. Thinks that Japan is looking into the headlights, and that China is on the edge. He expects Japanese central bank 'debauchery' first.

King World Interview here.

so he's bettign on inflationary destruction of bonds

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Hugh Hendry, just back from Japan, has decided to place a big short position against Industrial Bonds. Thinks that Japan is looking into the headlights, and that China is on the edge. He expects Japanese central bank 'debauchery' first.

King World Interview here.

The link goes to a smug looking photo of him - where is the interview?

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so he's bettign on inflationary destruction of bonds

Something like that. I kinda get the idea that he thinks the bond spread is too tight (something less than 1%), that there is no risk priced in. His idea that Japan, being the first to use QE, also being the first to have their system 'debauched', is interesting.

What is shocking is that the personal savings rate in Japan has dropped from 18% to 2% where it stands now. There is no way that they can self finance their sovereign debt if that continues.

I like Hendry, he's got that rare combination of brains and healthy scepticism.

Edited by Toto deVeer

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Confucius he say....Hendry should read verse 9 of Lao Tsu's Dao Te Ching. This speaks against excessive growth.

does that come with sticky rice?

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How much would he have to put on the table for a 2 billion short?

I'm guessing his G-Wizz, 6 chewits, a packet of juicy fruit and his 1972 Blue Peter annual (the one with John Noakes, Peter Purves and Valerie Singleton). But it's only a guess.

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I'm guessing his G-Wizz, 6 chewits, a packet of juicy fruit and his 1972 Blue Peter annual (the one with John Noakes, Peter Purves and Valerie Singleton). But it's only a guess.

Is that the one with the nice shots of valerie's knees?

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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