I worked as a derivatives broker (mostly FX products) from 1991 to 1998. At the introduction of the euro I moved on to training, software, consulting and writing.

I've seen the ERM crisis of 1992, the Asian crisis of 1997 and the Russian crisis of 1998. In February 2000 I wrote an article with the title "On Bubbles". In July 2006 I wrote with the title "The Coming Global Real Estate Bust".

I've worked in a world where real-time market data, analytics and the Internet were not common. That has changed. What has not changed are the politicians, their crisis response and the credit boom-bust cycles.

I've seen enough to take anyone's statement with great skepticism. I hope you return the favor and also doubt everything that I write. I like to engage with my audience, so feel free to leave comments.

Specialties: options (also exotic), euro crisis, EURUSD.
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Write a Squawk to Juhani Huopainen
  • Squawk / 12 July 2017 at 19:40 GMT
    Head Scalper / The Island Group
    United States
    Question of the day: Is USDJPY strength a risk-on or risk-off move?
    Read the Squawk
    12 July
    Juhani Huopainen Juhani Huopainen
    It used to be for a long time, but it isn't anymore. I guess the key here is the US ten year Treasury bond yield, which basically...
    12 July
    Juhani Huopainen Juhani Huopainen
    Sry negatively correlated.
    13 July
    seas seas
    So then what about gold. Is there now no longer a negative correlation as well?
  • Squawk / 07 July 2017 at 12:48 GMT
    Head of FX Strategy / Saxo Bank
    US jobs report doesn't change the plot. The headline change in nonfarm payrolls was a robust +222k vs. sub-180k expected, especially strong given the +47k revision to the prior two months' data releases. But another indifferent/weak Average Hourly Earnings figure (downward revision to 2.4% for May and weaker than expected 2.5% for June) and an uptick in both the Unemployment (to 4.4% from 4.3%) and Underemployment (to 8.6% from 8.4%) rates leave little to react to in the current environment. So now it's back to G20 summit watching. This generally encourages USD shorts, though hard to argue that the latter want to make a strong statement ahead of the Friday close.
    Read the Squawk
    07 July
    zahid.ali zahid.ali
    so overall dollar is getting weak?
  • Squawk / 07 July 2017 at 11:32 GMT
    Blogger / MoreLiver's Daily
    The correlation has changed from positive to negative. Some market participants have trouble adjusting to this. This creates noise, which in turn creates exploitable lags and divergences.
    Read the Squawk
  • 07 July
    Juhani Huopainen Juhani Huopainen
    Also Bloomberg notes the changing correlation between bonds and stocks:

    "The last time simultaneous declines occurred between bonds and stocks was during the taper tantrum in 2013 when...
  • Squawk / 06 July 2017 at 17:07 GMT
    Blogger / MoreLiver's Daily
    Bonds and DAX30 stock index. Note how last week bonds fell first (=yields rose), and stocks followed after a short delay.
    Read the Squawk
  • Article / 06 July 2017 at 14:02 GMT

    The timing of 'now'

    Head of Trading / The ECU Group plc
    United Kingdom
    The timing of 'now'
    Financial markets have perceived a pivot in central bankers' forward guidance or policy towards monetary normalisation, but are the markets getting ahead of themselves in relation to Eurozone normalisation?
    Read the article
    06 July
    spangles spangles
    Puts me in mind of a good Devon phrase. "I'll be there directly". Meaning any time in the next two years...
    07 July
    fxtime fxtime
    I hear that phrase every day LOL. Cornwall and Devon live by it IMHO LOL.
    12 July
    Rogan Rogan
    Reminds me of when a South African says "Just now" he means " later"...took me a while to remember that in Britain it's taken literally
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