Nomura Explains Why Kyle Bass's Most Famous Trade Has Been A Disaster

Great little chart/graphic from Nomura (via Dutch Book at Stone Street Advisors) on shorting Japanese Government Bonds, and how it’s been such a disaster.

Remember that this is the famous trade of hedge fund manager Kyle Bass, who has bet against Japanese debt on the premise that the country’s sky-high debt-to-GDP ratio makes a sovereign debt crisis.

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Photo: Nomura

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