Treasuries. JGBs. Yen. Three interconnected markets. One tool: CONFIDENCE. Funny how everything—from sovereign debt to trillion-dollar data centers—ultimately runs on confidence. Welcome to the Age of Trump: The Confidence Games
Jesse Felder‘U.S. Treasuries, JGBs and the yen have all undergone periods of heavy stress in recent decades, but rarely have all three been under such pressure at the same time. And this comes as market confidence in new Fed Chair Kevin Warsh and the BOJ is running dry.’ www.reuters.com/commentary/r...