Breaking!

The Japanese yen has weakened past 160 per dollar again, despite ‘the intervention.’ That intervention cost nearly $100 billion last month. So, Mr. Bessent, how is that ‘smart intervention’ aimed at preventing Japan from outright selling U.S. Treasuries working out for you? And have you called the Chairman of your ‘independent’ central bank yet to discuss where you want things to go? The minute global bond or currency markets start to wobble as investors add up all the ‘inventive’ — via @jsblokland

Yen past 160 despite $100B intervention challenges Bessent’s Treasury-selling prevention strategy.