There are no changes in the Wealth Preservation Portfolio this week. But long/overweight Japanese equities is being put on watch. Investors who cut Yen long positions in Yen may consider re-entering them. The BoJ has no excuse not to lean into Takaichi’s fiscal profligacy. She has said she will not try to change the BoJ statutes on independence. Both are good for the Yen. And a continued declining US$ speaks for long Yen too. The portfolio is also long SGD and AUD as safe have currencies. The Wealth Preservation Portfolio is at the bottom
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