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Headlines (that I’m watching):

•🇹🇼As if the semis shortage isn’t bad enough, Taiwan’s TSMC (world’s beating heart of semiconductor production) now under threat of potential COVID breakout.

•🇯🇵BOJ to consider buying “green bonds” alongside other Asia central banks, according to BOJ’s foreign media lap dog Reuters. See my assessment of BOJ’s climate change MMT - this is what happens when you run out of JGBs and ETF to buy. New fund to be unveiled at this week’s BOJ policy meeting. See my note from June BOJ Thoughts on potential Climate Change Fund

•🇨🇳PBOC’s -50bp RRR cut to all lenders in effect today, effectively injecting CNY 1 trillion into economy. Asia traders on the fence - is China easing risk positive, or do they see trouble ahead? My take- absolutely the latter: The recent crackdown on crypto and commodity speculation - this is (for once) a sincere effort to reign in excess froth ahead of potential storm clouds- and less to do with actually caring about BTC in China or even high raw material costs given currency strength. I also think China’s regulatory tech clamp spree is an interrelated crossover matter- China does indeed want to reclaim power and control back from tech industry, but is also taking preventative measures - they don’t... (More)