The Nikkei is gearing up for a big drop today (their Monday morning). We'll see how it closes, but it's seemingly the largest 2-day drop in Nikkei history given what happened on Friday.
There's a lot...
The carriage trade from Japan was going to get disrupted at some point because in order to save the yen, Japan will have to normalize interest rates. This was a mere 35 bps rise. To normalize rates there will need to be many more such raises. How will markets react then? An example of how markets have gotten untethered from reality.
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