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Real Vision: Finance & Investing

Following the Money as End of Holidays Nears

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.11.1K Ratings

🗓️ 28 December 2021

⏱️ 35 minutes

🧾️ Download transcript

Summary

DB-Dec27,2021:What put a floor under global markets last week may not be what you think. Weston Nakamura provides an overview of the global and cross-asset markets in the last week of the year. Nakamura explains that regional market holiday schedules matter because they determine the makeup of active market participants. He then talks about the unprecedented volatility in the Turkish Lira having rallied 50% from all time lows after President Erdogan unveiled his controversial new economic policy to protect depositors against FX risk. He also makes the case that the upside in global macro risk assets could have been driven by the breakneck reversal in the Lira, following up on his recently released video, “How Policy Changes Created Turkish Lira Volatility”. Link to Weston’s video on the Turkish Dollar from Dec 25th 2021: https://youtu.be/WnDiFCWgBDQ Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Here's something that will blow you away, heat pumps, the low carbion future of home heating,

0:07.0

and now is the perfect time to upgrade with a 7,500 pound government grunt.

0:13.0

And if you get yours from British gas, we guarantee you will heat your home to your perfect temperature,

0:18.0

or your money back. And what's more, we won't be beating on price.

0:23.0

So it's British gas, heat pumps, exclusions and conditions apply, government grunt subject to an eligibility.

0:31.0

Hey everyone, welcome to a special edition of the Real Vision Daily Briefing.

0:36.0

It is Monday, December 27th, 2021. My name is Weston Nakamura in my apartment in New York,

0:45.0

for which Ash Bennington has been squatting here for God knows how long at this point.

0:52.0

If you recall the last time that this happened, he basically said that he needs to get his locks changed.

1:03.0

And I respond by saying in language that he might understand Ash, not your keys, not your locks.

1:14.0

Alright, so with that said, I'm just going to just do a kind of overview of what I believe has happened in markets,

1:25.0

global markets, cross-asset over the past week, and this last week of the year,

1:33.0

because I have a, what I believe is a pretty differentiated view, at least from what I'm hearing,

1:39.0

and something to think about. Now, obviously, because this is the, you know, the last week of the year,

1:48.0

we're in between, you know, holidays, you know, Christmas, New Year's, there is a huge absence of, you know, market participants.

1:59.0

And there are also a lot of global market holidays. So, you know, in terms of market holidays, in global equities,

2:06.0

at least, so today, we have Hong Kong, Australia, New Zealand closed for Asia, UK, Ireland closed for EMEA,

2:16.0

and Canada closed for the Americas. Australia, New Zealand, UK, Ireland, Canada, they remain closed on Tuesday.

2:25.0

Friday, which is New Year's Eve, we have a bunch of early closes in Asia and Europe,

2:30.0

full day of trading in the US, and Japan is closed.

2:35.0

Japan is also closed Monday afternoon years, and reopens on Tuesday, January 4th,

2:41.0

so a day later than the rest of the DMs. Now, why does this matter? So, in general, you know, I've said this time and again,

...

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