There will be a tipping point where we transition from rising yield dollar attraction mode, pumping DXY and dumping Gold, to full on inflation fear hedge mode, dumping DXY and pumping all assets including Gold. What % yield will this tipping point be? And that's before we even talk about the BoJ, and other historically low interest rate currencies. Both senarios end up with the Fed cutting rates to prop up dumping risk assets like the Stock Market, due to loss in confidence in the USD plus the Yen Carry Trade unwinding in an uncontrolled manner, which would make the situation twice as worse. Repo and Swap facilities may dampen the effects. This will all be so interesting to watch unfold 🍿 Way more suspenseful than bread and circus FIFA. October feels right.