Not a single 10 year JGB changed hands for 4 trading sessions last week. After experiencing its third consecutive no-volume trading session, it became the longest such dry-spell since 1999.
The yen has fallen 21%, despite the recent $54 billion campaign to support the currency, roughly 4% of their 1.29 trillion in foreign currency reserves. Following that failed intervention, Japan’s reserves are at a 5-year low. The Yen now sits at its weakest level since the 1998 Asian Financial Crisis.
We gon’ get got by this widow maker trade? Or we gon’ go get?
Submitted October 15, 2022 at 02:26AM by werenotthatcool https://ift.tt/GDcX81W
