US Treasury undertakes historic intervention in yen market

Japan holds a huge amount of US treasuries, and I guess was considering a mass sell off to raise cash to defend the Yen.

US treasury bond yields are already dangerously high for the US and Japan selling treasuries would push yields up even higher, and could trigger more panic selling from others.

I guess this is Bessent's scheme to try and kick that can down the road.

Japan is the sort of canary in the coal mine.

so yeah if the yen pops - then the u.s will too given all the 'a.i' shenanigans & the market manipulation with oil.

but I guess the US Treasurer is willing to manipulate the market till they can't.

https://archive.is/lAaaZ

Can anyone steel man the “this isn’t a big deal” side of this?

On x and reddit all I see are sky is falling posts.

Doesn't mention that the Japanese would have sold US govt bonds to prop up the yen. But selling euros might force the Europeans to do just that to pro up the euro if need be. Is that a reasonable reading of things?

Paywalled

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