“You’re imbalanced!” “No, you’re imbalanced!”

There’s been a specific, yet passive, global contingent led by the US and somewhat supported by Europe, that believes the Chinese yuan is undervalued, that China possesses an unfair trade advantage by keeping their currency tied down.

Then, of course, there’s China who’s relied on the growth boost that’s come with running a huge trade surplus which seems to have been amplified by the low relative costs that come with a “stable” currency; they do not believe the yuan is undervalued.

Like kissing your sister ...

I heard about the World Cup opener between South Africa and Mexico and have seen two other “matches” since; all three have resulted in ties. Both Jack and my father-in-law respond the same way – it’s like kissing your sister.

And it really is.

Even if you’re a fan, even if you try your hardest to appreciate the athleticism and endurance of the players, you just feeling like hitting yourself in the face after sitting through ninety minutes and the final score is 1-1 ... or worse, 0-0.

$50 billion here, $50 billion there…Short euro? Be careful here with euro…

The phrase I think originally went something like this: A million here and a million there; pretty soon you are talking real money. We can only dream our government used numbers with so few digits. News on the wire is that President Obama’s economic team will push congress for another $50 billion in funds; supposedly targeted to teachers, police, and fireman jobs that are disappearing thanks to the giant hole in state, as well as federal, budgets. For those handicapping a double-dip recession, this news carries some weight.

About time for JGB fall and USDJPY rise don’t ya think?

TOKYO, June 11 (Reuters) - Japanese government bonds fell on Friday, with JGB futures sliding from a two-year peak hit earlier in the week as a jump in stocks prompted investors to book profits on a sharp bond rally over the last two months.

Yes indeed, a two-year peak in Japanese Government Bond futures. We think it could be time for money to start flowing out of Japanese bonds and into some relatively riskier investments inside and outside of Japan.