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Weston NakamuraVisionary
Real Vision Exchange Manager, Programming and Community Engagement

Delta Hedging Tokyo 2020 Olympics Video: Opening Ceremony Eve w/ Ash Bennington

Following up on my written post last week “Delta” Hedging 2020 Tokyo Olympics   @Ash Bennington joins me on the eve of the 2020 Tokyo Olympics Opening Ceremony tomorrow (Friday, July 23 2021), for one last overview of the serious (and seriously overlooked) situation on the ground, before we (as a global community) dive into the first real test of where we really are with this pandemic since inception.  

Filmed + footage from what should be a vibrant, bustling summer night of excitement in the Tokyo Station area - the heart of the world’s largest metropolitan region by population and GDP. This is the eerie calm before the storm.   

Latest Updated Facts & Figures:

•1,979 - latest Tokyo COVID daily cases (6m high)

91 - latest COVID positive cases among “Games-concerned personnel“

•Tokyo2020 now most expensive in history

Original revenue expectations: 
•¥1.52bn = ¥152k avg expected tourist spending x 1 million tourists 

•¥90bn = 630,000 ticket sales

•Large OLED TV sales +50% YoY (no spectators = TV sales ↑)


Week-of firings:
•Director of Opening Ceremony fired on Opening Ceremony eve- Holocaust jokes

•Opening Ceremony music conductor resigns on accusations of past bullying & abuse of the disabled

+Feb: Tokyo2020 President & former Japan PM Mori fired- sexist remarks.  +March: Creative Director fired- sexist remarks


•"Delta" Hedging 2020 Tokyo Olympics (Original Written)

•Japan: The World’s Biggest COVID Failure

John Crockett
Independent Global Macro Investor

Athletes to sleep on 'anti-sex' cardboard beds at Olympic Games

hmnnnn…these anti-sex Olympic Village beds sound incredibly uncomfortable and could potentially affect athletic performance, no? 

maybe, just maybe @Weston Nakamura was into something re what a mess this Olympics is going to turn out to be? :))
Weston NakamuraVisionary
Real Vision Exchange Manager, Programming and Community Engagement

BOJ June Policy Meeting: New Fund for Firms’ Climate Change Agendas Roll Out By ‘21 End

BOJ June ‘21 Monetary Policy Meeting out:

No change in YCC framework: policy rate -0.1%, JGB 10Y Yield at “around zero” - however, the “around zero” caveat of “around zero as we define it- no ceiling“ that they snuck in from April policy meeting remains ↓

“without setting an upper limit” + “SO THAT the 10y JGB yield will remain around 0%” ← this makes no sense. Essentially saying “by removing the cap on yields, yields will remain capped and stay at around zero.”

May sound benign- but frankly, removing the upper limit of where 10y JGB yields will be pinned is NOT controlling the yield curve. It’s giving itself an out should yields surge and BOJ finds they somehow can’t mechanically cap yields after all.

BOJ’ YCC on the 10y JGB yield upper bound- the level where BOJ would step in and conduct a fixed rate operation to buy an unlimited amount of JGBs at a fixed level, went from 0.1% → 0.2% → 0.25% → no upper limit. Had they not incrementally nudged up the upper limit over the years, perhaps one might be able to read “no upper limit” as “they have that much control over the long end of the curve.“ But up, up, up, gone = you didn’t have a grasp on it this whole time and now admitting yield curves cannot be effectively controlled.

This was the language that was in place from YCC inception in Sept ‘16 until the last time... (More)

Still bullish on $EFA

The Group of Seven richest democracies sought to counter China's growing influence by offering developing nations an infrastructure plan that could rival President Xi Jinping's multi-trillion-dollar Belt and Road initiative