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Bonds vs Yen
The Yen and Treasuries bottomed together as we entered the Global Financial Crisis; this was not a coincidence. If they can save the Yen with currency intervention this time around, they will also save the 10-year note. We believe US interest rates are being held artificially high relative to other sovereign debt by Japanese liquidation (they are the largest holder of US Treasuries) to raise cash (to defend their currency). We wrote about this for DeCarley Trading brokerage clients and newsletter subscribers. You can now get 2 months free if you sign up for a year. :) Get 2 months free with a one-year subscription - https://decarleytrading.substack.com/