Nobody Has Traded 10Y Japanese Govt Bonds For 2 Days!

• Can the BOJ continue to defend its YCC at such a low interest rate now that the FedRes has raised rates by 0.75%? Higher yield attracts more money. Investors will flee the Japanese Yen and flee to higher yielding USD. This will weaken the Yen and strengthen the USD. It will make inflation worse in Japan. The mechanism for a Global Currency Collapse –> Hyperinflation is in place. If countries around the world raise rates to match the USA, YCC will collapse. Investors will dump bonds as interest rates rise. We will have the making of a Global Sovereign Bond Crisis. See the Financial Armageddon coming?? Got physical gold/silver yet??
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• Nobody Has Traded 10Y Japanese Govt Bonds For 2 Days!
  by Tyler Durden, https://www.zerohedge.com/
  No trades (none!) were reported overnight in the benchmark 10Y Japanese Government Bond (JGB) for the second straight day. This is the first such occurrence since 1999. As Bloomberg reports, trading volumes in JGBs have dried up over the years as the BOJ scooped up sizable chunks of the debt to keep a cap on yields.
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  The BOJ’s fixed-rate operations have become the JGB trading floor,” said Katsutoshi Inadome, a strategist at Mitsubishi UFJ in Tokyo. “Players are guaranteed to find a solid buyer who also buys large lots.”
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  Traders also lack the incentive to trade benchmark 10-year notes because they expect yields to rise as the Fed aggressively tightens monetary policy, according to Mitsubishi UFJ Morgan Stanley Securities.
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  Bid-ask spreads for JGBs have exploded since March as inflation fears ripped through global bond markets (but BoJ remains stuck in its easing policy framework)..
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  Pressure is building on the BOJ to defend its yield-curve-control policy tonight after The Fed hikes (75bps is consensus) today. Widening yield differentials between the US and Japan have resulted in the yen sliding to a 24-year low. Finally, we note that the issue of diminishing liquidity isn’t limited to Japanese bonds.
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  Bank of America analysts warned in a note this month that shrinking trading volumes in the US Treasury market may be one of the greatest threats to global financial stability.
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