Hedge Fund Intelligence from the Ground

How’s the smart money trading the Japan crisis. We’ve got intelligence from the ground.

Anthony Scaramucci of Skybridge Capital tells us “several prominent hedge funds located in Japan are going long dollar and short yen. They’re putting that trade on right now.

That may seem counter-intuitive considering the yen is trading near all time highs against the dollar. But Scaramucci says these top hedgies expect that trend to reverse.

He explains that they're anticipating "some kind of quantitative easing to take place in Japan with tremendous government stimulus coming online to rebuild the Japanese economy. And they also expect it to happen in a fairly insulated way," he says.

That would be something unique for the Bank of Japan. The BofJ is typically a buyer of foreign Treasurys. They don’t like to buy their own Treasurys because they don’t want to be viewed as anti-business.

But Scaramucci says the BofJ will probably make a move similar to our own Fed. "They will get long their own debt and take that money and put it back in the economy; into government programs that will stimulate the internal economy," he explains. That will depreciate the yen relative to the dollar.

”This is intelligence from the ground,” he says.

* Anthony Scaramucci runs SkyBridge Capital, a leading alternative asset manager with more than $7 billion under management. Every week on Fast Money, Scaramucci, aka 'The Hedge', provides insights on major topics and themes currently being discussed in the otherwise secret world of hedge funds.

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