c8alpha
Investors / stance tracking

What Zoltan Pozsar is saying

Founder, Ex Uno Plures; ex-Credit Suisse

55 dated public stances tracked since 2019-12-13, most recently 2026-02-12. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.

The stances below are c8alpha's editorial distillation of Zoltan Pozsar's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Zoltan Pozsar is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.

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55
tracked stances
26
themes
0
side flips
2026-02-12
last heard
Returns  90d +2.5% (n=43) · 180d +3.7% (n=43) · 1y +9.4% (n=39)

Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances.

Most-argued themes

ThemeStancesLeanMixLast
GOLD88 bullish2026-02-12
USD77 bearish2026-02-12
Commodities Broad66 bullish2026-02-12
Long Dur Treasuries66 bearish2026-02-12
ENERGY33 bullish2023-05-20
COPPER22 bullish2023-04-24

Tracked stances

bullish / bearish is a view they argued; owns / short is a position they said they hold.

2026-02-12 GOLD bullish Zoltan Pozsar · video
As the dollar loses reserve status and the Fed is forced to monetize trillions in refinanced debt, gold — as 'outside money' with no counterparty liability and centuries of Lindy value — becomes the primary store of wealth in Bretton Woods 3
“assets that have been seen as real wealth for thousands of years and don't need a government promise to have value”
90d -4.6% · 180d -11.2%
The Death of the Dollar: Zoltan Pozsar’s 2026 New Monetary Order
2026-02-12 Long Dur Treasuries bearish Zoltan Pozsar · video
Traditional foreign buyers (China, Saudi Arabia) are on a buyer strike for US government debt, meaning the Fed must monetize the 2026 maturity wall refinancing at much higher rates, destroying the value of existing long-duration paper
“Who buys the debt? The Federal Reserve. They have to step in and print trillions”
90d +3.9% · 180d +5.8%
The Death of the Dollar: Zoltan Pozsar’s 2026 New Monetary Order
2026-02-12 USD bearish Zoltan Pozsar · video
The end of the petrodollar system eliminates artificial demand for dollars while Fed debt monetization prints trillions, causing a flood of returning dollars and structural debasement that accelerates through a 2026 maturity wall crisis
“The math just falls apart in 2026”
90d -2.6% · 180d -4.9%
The Death of the Dollar: Zoltan Pozsar’s 2026 New Monetary Order
2026-02-12 Commodities Broad bullish Zoltan Pozsar · video
The 2022 freezing of Russian reserves broke global trust in dollar-denominated inside money, triggering a structural shift where commodity-producing nations demand real goods over dollar IOUs, permanently repricing physical assets higher
“we are entering a new era defined by brutal honesty — resources are scarce and energy is expensive”
90d +31.8% · 180d +25.9%
The Death of the Dollar: Zoltan Pozsar’s 2026 New Monetary Order
2026-02-12 LAND / REAL ESTATE (HARD ASSET LAND) bullish Zoltan Pozsar · video
In a Bretton Woods 3 world where outside money with Lindy value outperforms digital promises, land — like gold — holds intrinsic value independent of government guarantees and is explicitly cited as part of the 'currency fortress' strategy
“things like gold and land, assets that have been seen as real wealth for thousands of years”
The Death of the Dollar: Zoltan Pozsar’s 2026 New Monetary Order
2026-02-12 LAND / REAL ASSETS bullish Zoltan Pozsar · video
Land and other Lindy assets (millennia-old stores of value with no counterparty liability) appreciate structurally as inside money (bank deposits, government IOUs) loses credibility in Bretton Woods III
“securing tangible outside money, assets that have what's called Lindy value”
The Death of the Dollar: Zoltan Pozsar’s 2026 New Monetary Order
2025-01-06 INFLATION / STRUCTURALLY HIGHER INFLATION REGIME bullish Zoltan Pozsar · video
It is nearly impossible to return to 2% inflation because the disinflationary tailwind from cheap Chinese goods is reversing due to the US-China trade war, and a tight labor market will be further pressured by Trump's immigration crackdown.
“almost impossible for the world to go back to 2% inflation”
An interview with Zoltan Pozsar（part2 ) : Adapting to the NEW WORLD ORDER
2025-01-06 RMB bullish Zoltan Pozsar · video
More commodity trade is being invoiced in RMB and other non-dollar currencies, prompting foreign central banks to accumulate RMB reserves as a functional alternative to the dollar for commodity settlement.
“foreign central banks are going to start accumulating currencies other than just the dollar”
An interview with Zoltan Pozsar（part2 ) : Adapting to the NEW WORLD ORDER
2025-01-06 GOLD bullish Zoltan Pozsar · video
Central banks are accelerating gold accumulation as a reserve asset because geopolitical risks, dollar weaponization, and the freezing of Russian reserves have made dollar-denominated reserves unreliable, driving a structural shift toward outside money over a…
“since the outbreak of hostility in Ukraine and the freezing of Russia foreign reserves foreign central banks purchase of gold accelerated”
90d +12.5% · 180d +26.4% · 1y +69.9%
An interview with Zoltan Pozsar（part2 ) : Adapting to the NEW WORLD ORDER
2025-01-06 USD bearish Zoltan Pozsar · video
Foreign central banks will increasingly diversify FX reserves away from USD into gold and other currencies because the dollar has been weaponized via sanctions and the US carries unsustainable debt levels with high interest costs, eroding trust in…
“dollar is not going to be replaced overnight but there will be an increasing percentage of revenue as reserve currency”
90d +3.4% · 180d +7.9% · 1y +4.4%
An interview with Zoltan Pozsar（part2 ) : Adapting to the NEW WORLD ORDER
2025-01-04 Long Dur Treasuries bearish Zoltan Pozsar · video
Persistent inflation and geopolitical disruption make the traditional 60/40 stock-bond portfolio ineffective, as bonds no longer provide the hedge they once did.
“the traditional 60/40 portfolio allocation will struggle in this environment”
90d -8.0% · 180d -2.2% · 1y -5.1%
An interview with Zoltan Pozsar（part1) : Adapting to the NEW WORLD ORDER
2025-01-04 Commodities Broad bullish Zoltan Pozsar · video
Chronic underinvestment in the resource sector combined with geopolitical conflicts and labor issues will keep inflation sticky, making commodities a necessary portfolio allocation replacing the traditional 60/40 framework.
“20% for cash, 40% for stock, 20% for bonds and 20% for Commodities”
90d -2.6% · 180d +3.5% · 1y +9.6%
An interview with Zoltan Pozsar（part1) : Adapting to the NEW WORLD ORDER
2025-01-04 RMB bullish Zoltan Pozsar · video
China's current account surpluses and expanding use of bilateral swap lines to settle trade in RMB will gradually increase the currency's reserve status without requiring nations to hold large reserves.
“trade can occur in renminbi without nations needing to hold vast reserves of the currency”
An interview with Zoltan Pozsar（part1) : Adapting to the NEW WORLD ORDER
2025-01-04 GOLD bullish Zoltan Pozsar · video
Gold will play an increased role in the monetary system as inflation remains structurally sticky and currencies diversify away from the dollar, making it an excellent inflation hedge.
“gold could play an increased role and I think that's definitely right”
90d +15.0% · 180d +26.3% · 1y +68.1%
An interview with Zoltan Pozsar（part1) : Adapting to the NEW WORLD ORDER
2025-01-04 USD bearish Zoltan Pozsar · video
The world is moving toward a multi-polar reserve currency system where the RMB and Euro increasingly challenge dollar dominance, driven by China's current account surpluses and expanded use of RMB swap lines in international trade.
“moving into a multi-polar reserve currency world where dollar will be challenged by the renminbi and the Euro”
90d +3.8% · 180d +8.2% · 1y +4.8%
An interview with Zoltan Pozsar（part1) : Adapting to the NEW WORLD ORDER
2023-06-30 USD bearish video
As commodity trade invoicing shifts to RMB and other currencies and a Central Bank-to-Central Bank FX settlement network bypasses dollar intermediation, structural dollar demand weakens over a 5-10 year horizon
“the dollar's hegemony is going to be challenged by some geo-financial moves”
90d -4.7% · 180d -1.0% · 1y -9.2%
2023-06-30 Long Dur Treasuries bearish video
Structural foreign demand for Treasuries is eroding as dedollarization reduces the need for dollar reserve accumulation, meaning the US will increasingly rely on domestic buyers and Fed scaffolding to absorb supply
“demand for treasuries from the rest of the world is probably not going to be what it once was”
90d +13.1% · 180d +0.2% · 1y +9.0%
2023-06-30 GOLD bullish video
Non-Western central banks are actively diversifying away from US Treasuries and accumulating gold as geopolitical alignment shifts, evidenced by accelerating EM central bank purchases and commodity-for-gold bilateral deals (Ghana/Russia)
“gold is definitely something that's coming back as a theme”
90d -2.8% · 180d +8.0% · 1y +20.9%
2023-06-30 Commercial Real Estate bearish video
CRE losses have not yet been recognized; the reckoning has been delayed by the ability of banks to hold assets to maturity and by interest-on-reserves income, but the underlying impairment is real and will surface in non-bank balance sheets
“credit has yet to have its Reckoning and Commercial Real Estate has yet to have its Reckoning”
90d +8.8% · 180d -8.6% · 1y -3.6%
2023-05-20 GOLD bullish Zoltan Pozsar · video
Gold is correctly pricing in the inflationary implications of the Bank Term Funding Program and eventual QE restart, which represent backdoor Fed balance sheet expansion.
“gold and Bitcoin seeing through this as highly inflationary… I think they have to”
90d -4.3% · 180d +0.3% · 1y +22.6%
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 QE bullish Zoltan Pozsar · video
The US government faces a structural funding problem that will force the Fed to restart QE in order to keep a lid on Treasury yields and prevent swap spreads from getting out of place
“the Fed is probably going to restart QE to keep a lid on Treasury yields”
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 STRUCTURAL INFLATION / STICKY INFLATION bullish Zoltan Pozsar · video
Inflation will remain structurally elevated because today's environment lacks the tailwinds Volcker had — no new commodity supply, labor shortages, geopolitical instability, and a political shift toward labor over capital.
“this fed is not as lucky as Paul Volcker used to be”
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 BITCOIN bullish Zoltan Pozsar · video
Bitcoin, like gold, is correctly pricing in the inflationary and monetary debasement implications of backdoor Fed balance sheet expansion via programs like BTFP.
“the reaction of gold and Bitcoin… seeing through this Bank term funding program as highly inflationary”
90d -3.9% · 180d +33.3% · 1y +144.5%
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 Long Dur Treasuries bearish Zoltan Pozsar · video
The Fed will suppress Treasury yields through a spectrum of tools (BTFP, operation twist-like issuance skewing, eventual QE), making owning long-duration Treasuries at current yields risky as policy increasingly resembles soft yield curve control
“we are in the antechamber of that… there are many telltale signs”
90d +6.2% · 180d +9.4% · 1y +6.1%
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 BANKS bearish Zoltan Pozsar · video
Smaller US banks loaded up on long-duration assets while funding with flighty short-term liabilities and failed to hedge interest rate risk, making them structurally vulnerable as rates stay higher for longer
“the asset side went bad and the liability side went bad”
90d -11.4% · 180d -13.7% · 1y -38.5%
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 ENERGY bullish Zoltan Pozsar · video
A decade of underinvestment in oil, gas, and all commodities combined with geopolitical instability creates persistent supply constraints that will keep commodity prices elevated.
“we haven't invested in oil and gas for close to a decade and that applies to every commodity imaginable”
90d +13.0% · 180d +6.3% · 1y +23.0%
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 US SMALL BANK EQUITIES bearish Zoltan Pozsar · video
Small US banks are structurally vulnerable because they failed to hedge interest rate and duration risk, leaving them exposed as rates rise and their depositor bases face liquidity problems.
“these problems are going to continue to bubble up”
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 STRUCTURAL INFLATION / STICKY INFLATION THEME bullish Zoltan Pozsar · video
Unlike the Volcker era, today's inflation is structural due to labor shortages, commodity underinvestment, geopolitical fragmentation, and a political shift from capital to labor, meaning inflation will prove stickier than consensus expects
“this Fed is not as lucky as Paul Volcker”
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 Commercial Real Estate bearish Zoltan Pozsar · video
Rising interest rates are exposing hidden losses in commercial real estate across the banking system globally, and these problems will continue to surface as rates stay elevated.
“who gets hurt to what extent by the real estate problems in commercial real estate… these problems are going to continue to bubble up”
90d -0.6% · 180d +0.1% · 1y -8.8%
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-05-20 Commodities Broad bullish Zoltan Pozsar · video
A decade of underinvestment in oil, gas, and all commodities — compounded by geopolitical instability and structural labor shortages — makes inflation far stickier than the Volcker era, keeping commodity prices structurally elevated.
“we haven't invested in oil and gas for close to a decade and that applies basically to every commodity imaginable”
90d +6.2% · 180d +3.9% · 1y +10.4%
Zoltan & Arthur Hayes: New Monetary Order at Bitcoin 2023
2023-04-24 Commodities Broad bullish Zoltan Pozsar · video
Structural supply constraints from ESG-driven underinvestment, rising geopolitical tensions, and surging EM demand will keep commodity prices elevated even through a recession, overwhelming the deflationary impact of rate hikes
“you basically see a commodity super cycle in embryonic form but it's going to grow very fast”
90d +2.1% · 180d +4.0% · 1y +2.9%
Zoltan Pozsar Interview Goes Viral After He Issues New WARNING
2023-04-24 LITHIUM bullish Zoltan Pozsar · video
Underinvestment and geopolitical fragmentation are sapping future lithium production at the same time EM industrialization drives structural demand growth
“it's the same thing not just with oil gas also copper lithium”
90d +8.1% · 180d -19.5% · 1y -29.2%
Zoltan Pozsar Interview Goes Viral After He Issues New WARNING
2023-04-24 OIL AND GAS PRODUCERS bullish Zoltan Pozsar · video
Majors are buying back stock rather than investing in new drilling due to regulatory and permitting uncertainty, creating a persistent supply deficit that supports prices regardless of demand cyclicality
“majors in oil are buying back stock due to uncertainty over permitting and drilling over the next 10 years”
Zoltan Pozsar Interview Goes Viral After He Issues New WARNING
2023-04-24 COPPER bullish Zoltan Pozsar · video
Same ESG-driven underinvestment and geopolitical supply disruption dynamics affecting oil also apply to copper, constraining future production while EM demand rises
“it's the same thing not just with oil gas also copper lithium”
90d -2.4% · 180d -8.5% · 1y +13.6%
Zoltan Pozsar Interview Goes Viral After He Issues New WARNING
2023-03-15 DEFENSE bullish Zoltan Pozsar · video
G7 governments are dramatically increasing military budgets and defense manufacturers are building extra factories to restock inventories, representing a sustained structural increase in defense spending that offsets recessionary impulses.
“CEOs of defense manufacturers are all trying to build extra factories to basically be able to restock faster”
90d +4.5% · 180d -0.2% · 1y +15.1%
Zoltan Pozsar 2023 Interview (Part 1)
2023-03-15 OIL AND GAS bullish Zoltan Pozsar · video
Shale production has peaked, oil majors are buying back shares rather than investing in new production, and OPEC+ is signaling less supply not more, breaking the historical price-signal feedback loop that previously cured high prices with higher production.
“the cure to high prices is high prices... that feedback loop today is broken”
Zoltan Pozsar 2023 Interview (Part 1)
2023-03-15 ENERGY bullish Zoltan Pozsar · video
Trillions in government spending on reshoring critical industries (chips, batteries, grid) matched by private capital creates an investment boom powerful enough to offset the recessionary impact of Fed rate hikes.
“I think this investment offset is going to be quite powerful perhaps to the point where we won't even have a recession”
90d +5.7% · 180d +19.7% · 1y +22.3%
Zoltan Pozsar 2023 Interview (Part 1)
2023-03-15 COPPER bullish Zoltan Pozsar · video
Easy-to-access copper deposits are depleted globally, new mines take years to bring online, and demand is set to surge from electrification and industrial reshoring, making supply structurally constrained against rising demand.
“to just economically get copper out of the ground is becoming more and more costly and complicated”
90d -0.6% · 180d -1.1% · 1y +6.4%
Zoltan Pozsar 2023 Interview (Part 1)
2023-03-15 LITHIUM bullish Zoltan Pozsar · video
Lithium-rich nations are nationalizing resources, proposing OPEC-style cartels, and imposing export tariffs on raw lithium to capture value-chain benefits, structurally restricting supply just as battery and EV demand accelerates.
“there are countries that are proposing to have an OPEC for lithium”
90d +11.3% · 180d -0.7% · 1y -21.9%
Zoltan Pozsar 2023 Interview (Part 1)
2023-03-15 Commodities Broad bullish Zoltan Pozsar · video
A decade of underinvestment in commodity supply combined with a surge in structural demand from G7 rearming, reshoring, and energy transition spending creates a commodity supercycle — the supply-price-signal feedback loop is broken while demand is…
“you basically set the stage for a big bull run in virtually all commodities whether it's old industry or green industry or fossil fuels”
90d -0.1% · 180d +11.2% · 1y +4.9%
Zoltan Pozsar 2023 Interview (Part 1)
2023-03-13 ENERGY bullish Zoltan Pozsar · video
A decade of under-investment in oil and gas fields has left energy markets structurally tight, and geopolitical fragmentation means supply-side risks are skewed to the upside rather than the downside
“energy markets alongside other commodity markets are extremely tight because we basically just finished a decade of no investments in oil and gas fields”
90d +0.6% · 180d +14.4% · 1y +13.9%
Zoltan Pozsar 2023 Interview (Part 2)
2023-03-13 FED FUNDS RATE / SHORT-TERM RATES (HIGHER FOR LONGER) bullish Zoltan Pozsar · video
With labor markets at record-tight levels, wage growth at 4-5%, and food/energy inflation stochastic with upside risks, the Fed has no choice but to keep rates at or above 5% for an extended period and hike further if needed, meaning markets pricing early…
“make no mistake about this, the Fed is going to do a tough job”
Zoltan Pozsar 2023 Interview (Part 2)
2023-03-13 Long Dur Treasuries bearish Zoltan Pozsar · video
Foreign central banks have stopped buying Treasuries since the Ukraine war outbreak, dealer capacity to move securities has shrunk, and the market has grown too large, meaning liquidity in the Treasury market is deteriorating structurally.
“the size of the market is very big but the dealer's ability to move treasury securities around is just not what it used to be”
90d +2.7% · 180d +10.0% · 1y +7.1%
Zoltan Pozsar 2023 Interview (Part 2)
2023-03-13 USD bearish Zoltan Pozsar · video
Great-power conflict between the US and China is driving a renegotiation of dollar supremacy, with commodity trade increasingly settling in renminbi, dirhams, or gold, gradually eroding the dollar's structural bid.
“World Order is being renegotiated and the question of dollar supremacy is one of the big generational questions”
90d -1.4% · 180d -3.9% · 1y -5.4%
Zoltan Pozsar 2023 Interview (Part 2)
2023-03-13 GOLD bullish Zoltan Pozsar · video
Gold is being used as an actual payment currency for commodity trade (e.g., Ghana paying Russia for oil in gold), signaling its re-emergence as a monetary asset outside the dollar system amid de-dollarization.
“the deal that Ghana has made with Russia in terms of paying for oil with gold — these are not usual circumstances”
90d +2.3% · 180d +0.3% · 1y +12.3%
Zoltan Pozsar 2023 Interview (Part 2)
2023-03-13 Commodities Broad bullish Zoltan Pozsar · video
The deflationary tailwinds of cheap capital, cheap commodities, and functioning supply chains that enabled QE are gone, replaced by structural shortages across virtually every commodity input, supporting a multi-year bull case.
“we are stuck basically with a shortage of virtually everything that determines inflation in Western societies”
90d -5.0% · 180d +7.2% · 1y -0.5%
Zoltan Pozsar 2023 Interview (Part 2)
2023-03-07 Long Dur Treasuries bearish Zoltan Pozsar · video
Shifting commodity trade away from dollar financing breaks the recycling loop where petrodollars fund treasury auctions, creating both a flow and stock demand problem for Treasuries
“you will feel the impact…there's a stock problem, there's a flow problem”
90d -0.9% · 180d +6.6% · 1y +2.2%
Zoltan Pozsar The Mechanisme Has Been Damaged. Change will come - Zoltan Pozsar
2023-03-07 GOLD bullish Zoltan Pozsar · video
As G7 inside money loses appeal following Russia sanctions, central banks and commodity exporters will rotate into physical gold as a monetary anchor outside any jurisdiction's control
“you can also demand payments for gas delivered in gold”
90d +8.0% · 180d +5.9% · 1y +17.9%
Zoltan Pozsar The Mechanisme Has Been Damaged. Change will come - Zoltan Pozsar
2023-03-07 USD bearish Zoltan Pozsar · video
Freezing Russian FX reserves damaged trust in G7 inside money, incentivizing non-Western central banks to diversify away from USD, reducing structural dollar demand over time
“that whole mechanism has been damaged, it's inevitable that change will come”
90d +0.4% · 180d -2.1% · 1y -3.7%
Zoltan Pozsar The Mechanisme Has Been Damaged. Change will come - Zoltan Pozsar
2023-03-07 RENMINBI (CNY) / CHINESE BANKING SYSTEM ASSETS bullish Zoltan Pozsar · video
Commodity exporters sanctioned by G7 will accumulate RMB balances in Chinese banks as a friendly-jurisdiction alternative to USD/EUR reserves, increasing RMB's role in global trade
“you can then start to accumulate balances in a friendly jurisdiction that didn't sanction you”
Zoltan Pozsar The Mechanisme Has Been Damaged. Change will come - Zoltan Pozsar
2022-05-18 USTS bearish Zoltan Pozsar · video
Current inflation is structural — a shortage economy with labor dislocation and demand permanently above supply — not cyclical, requiring the Fed to hike well beyond market pricing to a 4–5% peak.
“rates have gone up a lot i think they will have to go up way more uh you know think like four percent five percent”
90d -1.3% · 180d +6.1% · 1y +2.6%
The challenge to the USD | Zoltan Pozsar and Adam Tooze
2022-05-18 GOLD bullish Zoltan Pozsar · video
Sanctions on Russia's G7 inside-money reserves revealed confiscation risk inherent in holding counterparty-dependent assets, accelerating a structural shift by reserve managers toward outside money that no sovereign controls.
“I do believe that gold is definitely going to play a bigger role in reserve managers asset allocation going forward”
90d -2.4% · 180d -2.7% · 1y +7.3%
The challenge to the USD | Zoltan Pozsar and Adam Tooze
2022-05-18 SPX bearish Zoltan Pozsar · video
The Fed is deliberately engineering reverse wealth effects to crush demand in a shortage economy, and markets are wrong to treat this as a normal cyclical hiking cycle with cuts to follow, leaving equities with significant additional downside.
“the fed is basically proactively purposefully by design engineering reverse wealth effects”
90d -10.1% · 180d -1.7% · 1y -8.8%
The challenge to the USD | Zoltan Pozsar and Adam Tooze
2022-05-18 USD bearish Zoltan Pozsar · video
Reserve managers accumulated USD/Treasuries to suppress their currencies for export competitiveness, but in a geopolitically fragmented world where sanctions risk dominates, that incentive disappears and the case for large dollar reserve stockpiles weakens…
“would i say could it potentially be a peak euro dollar yes”
90d -2.6% · 180d -3.6% · 1y -3.0%
The challenge to the USD | Zoltan Pozsar and Adam Tooze
2019-12-13 YEAR-END OVERNIGHT REPO RATES bullish Zoltan Pozsar · video
Primary dealers lack balance sheet to intermediate the Fed's repo facility at year-end regulatory snapshot dates because their leverage ratios preclude taking delivery and re-distributing Fed liquidity, creating a funding stress event likely worse than…
“if you thought September was bad oh man December can get even worse”
Zoltan Pozsar November 2019 Interview on Repo Market Madness

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