DOMINO EFFECT

Japan’s bond market is starting to unravel 🧵

• Insurers sold -$8.7B in long-term bonds in just months

• Longest selling streak on record

• Auction demand falling BELOW 12-month average

When domestic institutions lose confidence,

who steps in? 🤔

This could ripple FAR beyond Japan.

#MacroRisk #BondCrash #JapanEconomy #Rates #CentralBanks #MarketStress