Japanese bonds and yen come under pressure after Jackson Hole meeting
Currency weakens past ¥160 a dollar and yields rise to highest in three decades as investors raise bets on monetary tightening
Source: Financial Times
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DW NOTE
The BOJ spent decades insisting that zero rates and yen-printing were costless. Now the yen is at ¥160 and bond yields are at three-decade highs—not because policy changed, but because the market stopped believing the fiction. Tightening now just means admitting what was always true: you cannot suppress the cost of capital without eventually destroying the currency.