Friday, March 5, 2021

Japan runs our petrodollar standard

Treasury Short Sellers Face Rising Costs to Borrow 10-Year Notes

Adding to the crunch are yen-based investors. They have been liquidating older Treasury positions, according to traders in Asia, who asked not to be identified as they aren’t authorized to speak publicly. The impact in the repo market comes from how dealers absorbing the Japanese supply in old bonds -- those not used in benchmarks -- often sell current ones to hedge their positions.

Oil exports will be paying for those Green jobs. 

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