Soaring Bond Yields, Falling Yen, And Big Wage Gains Leave BOJ In A Dither

Two months ago, I wrote “ Hints of U.S. Treasury Intervention To Support The Yen ,” where U.S. Treasury Secretary Scott Bessent initiated a rate check by the New York Fed to stabilize the yen-dollar exchange rate. Bessent was concerned about risingMichael Gray has devoted his career to following the capital markets and managing fixed income assets. He founded Gray Capital Management LLC and before that was Head of Taxable Fixed Income at Fidelity Investments. Michael has an MBA in Finance from Wharton and a ...