This afternoon’s rumor about Japan dumping $100 billion worth of Treasuries was great for raising the hair on traders’ backs, but it never made sense.
Japan is freaked out about its soaring yen, and the last thing they want to do is make a move that would hurt the US Dollar, which is all dumping Treasuries would do.
Alas, the government is now explicitly denying the reports, according to Reuters.
Remember, if anything they’re going to print yen, and buy Treasuries.
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