Japan Raised Rates. The Yen Still Doesn’t Believe It
Japan raised interest rates. The yen fell. That tells us almost everything we need to know about the Bank of Japan’s problem. The BOJ increased...
Tag: Sanae Takaichi
The Yen Could Trigger the Next Dollar Sell-Off
The yen’s latest rally looks modest compared with July’s intervention. Its implications may be much larger. The currency jumped as much as 1.2% against the...
The BOJ’s Yen Dilemma
The United States and Japan have shown an unusual degree of coordination in defending the yen. Yet beneath that apparent unity lies a fundamental disagreement...
Japan Pulls the Thread, the Bond World Unravels
A sudden surge in volatility on the Japanese government bond market is no longer a local curiosity. It is fast becoming a global stress test....
When the Safe Haven Starts Leaking, Treasuries Discover Geopolitics Has a Price
US Treasuries retreated as investors reassessed what had long been treated as an unquestioned refuge. The trigger was not data, nor central bank guidance, but...