June 23, 2025

LOCKED Japan Update: LDP Suffers Major Defeat in Tokyo Municipal Election

LDP Suffers Major Defeat in Tokyo Municipal Election
Retail Rice Price Falls Below ¥4,000
New Tokyo Condos for Sale Drop 17% in May
Crude Steel Production Falls 4.7% in May
Oji Holdings (3861) Raises Cardboard Prices 10%

June 23, 2025

MI2 TD Trade Point — Breakdown Broadens, Cracks Widen

The unwind is spreading. U.S. majors are under pressure, Europe’s already cracked, and now leadership is faltering. The Magnificent 7 finally broke— exhaustion fired, price flipped, structure snapped.

June 23, 2025

Recent Publications

Japan Update: July Economy Watcher’s Index Falls

Ask Me Anything & Summary of Views with Julian Brigden – August 2022

Thoughts From The Divide – Releasing the Hounds

Japan Update: Japanese Electronic Parts Makers Report Higher Inventories

Macro Insiders: In Focus Trade Portfolio – August 2022

MI2 China Update: Pelosi’s Taiwan trip still on, despite China signaling a potential military response

Blog Posts

Thoughts From The Divide: The Anti-Trump Trade (And Other Graceful Exits)

Thoughts From The Divide: I’ll have what he’s having!

LOCKED Part II: The End of the Basle 3 “Endgame”

LOCKED MacroCapture: On Our Radar | 2/8 – 2/15