@markhutchinson
Japan's bond market is flashing red
1.400%
1.200%
The 10-year JGB just hit levels Japan hasn't seen in decades - and it's happening fast. After years of near-zero rates, higher yields now mean higher debt servicing costs for the most indebted developed nation on Earth.
0.800%
0.600%
1.601
0.400%
This isn't just a Japan story.
0.200%
33
Global carry trades, currency markets, and risk assets all feel this.
0.000%
Harm
When the world's longest-running experiment in easy money starts to unwind, the ripple effects don't stay local
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