๐ฏ๐ต BOJ SUMMARY OF OPINIONS IN 3H
BOJ drops it Dec 29, 8:50am JST
This is the hintโฆ what they wanna do next ๐
market will read every word
POSITIVE โ still easy policy = risk on โ
NEUTRAL โ nothing changes = yen stays weak ๐ถ
NEGATIVE โ tightening talk = volatility + chaos โ ๏ธ
JGB yields already high
yen already stressed
so yeahโฆ expect big swings ๐
๐ฏ๐ต JAPAN APPROVES RECORD $785B BUDGET ๐ฅ
Japan just cleared ยฅ122.3T budget (record)
bond issuance ยฅ29.6T
debt servicing cost +10.8% (ouch)
debt reliance down to 24.2% (lowest since 1998)
rate assumption 3.0% (highest in 29 years)
high debt + rising yieldsโฆ bad combo
this is the kind of macro that breaks things fast
watch yen
watch bonds
and crypto reacts when stress shows up ๐
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