AUGUST - PORTFOLIO REVIEW

This is a free preview of a paid episode. To hear more, visit www.russell-clark.comAugust seemed like one of those months that went on forever. It started with the BOJ raising rates, and a weak employment number in the US, driving huge volatlity. We saw a rapid rally in the Yen, and Nikkei VIX top 70.This briefly caused GLD/TLT to dip, but was fully recovered by the end of the month.I had assumed that as the BOJ was tightening because Japan was also moving pro-labour. Pro labour policies are positive for Japan in my mind, and this would not have a particularly negative effect on Japanese assets. The Topix in USD terms, finished the month back at highs.