Tagged: japan
3 posts
MacroJapan's Carry Trade Unwind Isn't Over
The August 2024 yen carry trade unwind was not a one-off event. It was the first tremor. The Bank of Japan is still the largest buyer of Japanese government bonds and the second-largest foreign holder of US Treasuries. Every time the yen rallies, that position becomes a source of forced selling. The next tremor is closer than the market is positioned for.
PoliticsSeoul, Tokyo, Delhi - Three Regulators, One Race
Asia's three largest non-Chinese crypto markets are writing their rulebooks simultaneously - and reaching wildly different conclusions. South Korea bans leverage trading. Japan cuts crypto taxes to 20%. India quietly unbans exchanges while keeping its 30% flat tax. The regulatory arbitrage is just beginning.
MacroJapan's YCC Exit and the Global Liquidity Squeeze
The Bank of Japan abandoned yield curve control, letting 10-year JGB yields rise to 1.8%. The yen carry trade unwind is draining global liquidity.