Arthur Hayes, former CEO of BitMEX and current chief investment officer of his family office, took to X (formerly Twitter) to share his latest macro outlook. Hayes referenced his recent Substack article titled "Atencion," which discusses how the decline in the euro-yen (EURJPY) exchange rate signals a new wave of global money printing.
Hayes is currently deep in the Patagonian winter, engaged in backcountry hiking and skiing. He noted that the annual Santa Rosa storm has brought over one meter of snow to the alpine region, with low temperatures and several days of settling stabilizing the snowpack and reducing avalanche risk.
He also mentioned that Fed Chair Warsh is scheduled to speak at the Jackson Hole symposium. As the CIO of his family office, Hayes needs to generate returns through investments. Due to his lifestyle, he focuses on just one or two price indicators to determine whether the pace of fiat liquidity injection is accelerating or decelerating, and adjusts his portfolio accordingly – going long or holding cash, but never shorting.
Hayes emphasized that these indicators change over time, and his current core macro indicator is the EURJPY pair. The full article is available on his Substack account, cryptohayes.