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8 Posts
Biography
Victor Xing is founder and portfolio manager of Kekselias, Inc., and a former fixed-income trading analyst at Capital Group Companies with a focus on monetary policy, inflation-linked bonds, and interest rates markets.
Author’s Posts
04 June 2025
Currency Coordination Looks Riskier Today
By Victor Xing
This post examines the potential consequences of coordinated dollar depreciation today — from FX volatility and insurance risk to broader macroeconomic impacts.
16 September 2024
Global Fungible Money Flows Heighten Volatility Risks
By Victor Xing
Rapid yen appreciation in the third quarter triggered a brief-but-disruptive volatility surge across major asset markets, demonstrating the fleeting nature of “liquidity-on-loan.”
28 June 2023
Global Supply Chain Transformation: Uncertainty and Opportunity
By Victor Xing
Nearly two years into the global supply chain restructuring process, the economic data are revealing the consequences.
16 March 2023
Is the Copper–Gold Ratio a Dependable Leading Indicator on Rates?
By Victor Xing
Earlier this year, the copper–gold ratio was, in Jeffrey Gundlach’s words, “screaming that the 10-year should go lower.”
04 January 2023
The Yen’s Downside Risk Persists Despite BOJ Shift
By Victor Xing
There is reason to be cautious about the nascent yen rally.
26 August 2022
Demand Destruction? Two Reasons to Be Skeptical
By Victor Xing
Demand destruction does not guarantee disinflation.
21 April 2022
Geopolitical Shock: Regime Change in Inflation and Monetary Policy
By Victor Xing
As cracks develop along geopolitical fault lines, new barriers could emerge to disrupt global trade.
20 July 2021
The Fed’s Blindspot on Global Inflation Drivers
By Victor Xing
What is driving the surge in inflation and how are central banks misplaying their hand?
