Would you buy US bonds and if so, what is your thesis? Or are you just stating that lower exUS commodity buying costs will result from a lower DXY which should happen at some point? Assuming a lower DXY would have a positive correlation with lower global interest rates, I'm thinking you'd assume that the commodity holding/borrowing and opportunity cost will be lower too?
Would you buy bonds now for your 3-6 month positive backdrop scenario or closer to the mid terms? And on that timing issue, what is your thinking on supportive 3-6 months when the mid terms are 2 years away? Could they not wait until 6-12 months out from the mid terms, assuming that pump theory is valid?
If you lever into the liquid US treasury market you could make much more than you'll make here?
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