Global Macro
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Dollar Strength, Yen Stress, and Korea’s Surplus: Why Rate Divergence Became the Weekend Trade
Friday’s real hotspot was not one more AI stock. It was the return of policy divergence: stronger U.S. jobs, USD/JPY near 160, a giant Korean surplus, and a Europe that still cannot fully look through energy inflation.
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Bond Vigilantes Are Becoming the Global Hotspot: Japan’s JGB Shock, Korea’s CPI Surprise, Europe’s June Hike Setup and a U.S. Treasury Market That Won’t Calm Down
The real market story is moving out of narrow stock themes and into sovereign yields. Japan, Korea, Europe and the United States are all feeding the same trade: the bond market is forcing a harsher higher-for-longer repricing.
