Japanese PM's 3.28% bond yield crisis reveals why your yen trades are failing
Key Points
- Japanese government bonds hit a 30-year high yield of 3.28% ...
Japanese government bonds just hit a 30-year high yield of 3.28%, and Prime Minister Shigeru Ishiba is probably wondering if his job comes with better severance packages than his bonds.
The Land of the Rising Sun is experiencing what traders politely call "political uncertainty" and what everyone else calls "complete chaos." With Ishiba's leadership hanging by a thread and a potential extraordinary election scheduled for Monday, September 8, Japan's financial markets are having the equivalent of a nervous breakdown in public.
When Fiscal Hawks Meet Political Reality
The yen and Japanese...
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