MBCC TH 20th Jun'24 - "Norinchukin sells $60+ bln of Bonds, what does this mean at a time when CBO raises US debt deficit even more....paging Fed/Yellen!"

US markets were off yesterday and in quiet light volumes, the grind up missed some big headlines. We break it down and what it means for the US bond market.

Japan is checkmated and its corporations/banks are unwinding the negative carry trade - remember 08 - who was the first one to sell?

OOPS!