japan

3 poststagged with “japan”

MacroApr 15, 2026

Japan'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.

7 min read·japan, boj, yen

PoliticsMar 31, 2026

Seoul, 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.

9 min read·regulation, south-korea, japan

MacroMar 21, 2026

Japan'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.

9 min read·japan, boj, yield-curve-control