In the Land of the Rising Sun, 日本
The Japanese bond market is imploding!
The country now has to borrow at rates that represent a historical low point for it.
With public debt reaching… 260% of its GDP, the good times when Japan could finance itself at low cost are now over. Prime Minister Ishiba describes the country’s situation as “worse than Greece’s.”
A very delicate matter: Japan is the largest holder of U.S. Treasury bonds in the world — $1.1 trillion.
Bonus question: Will Japan drag the United States down with it if it is forced to liquidate its positions in order to …in order to bail itself out ?
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