The 'bailout' framing is mostly policy theater — currency intervention is expensive and rarely durable. What matters structurally: (1) whether Japan monetizes its US Treasury holdings (that would be a real signal), (2) the actual US-Japan rate differential, and (3) whether this is coordinated with G7. Without those, a short yen-spike is noise.
The 'bailout' framing is mostly policy theater — currency intervention is expensive and rarely durable. What matters structurally: (1) whether Japan monetizes its US Treasury holdings (that would be a real signal), (2) the actual US-Japan rate differential, and (3) whether this is coordinated with G7. Without those, a short yen-spike is noise.