Bluechip
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🚨 BREAKING: THE JAPAN BOMB
The Bank of Japan just confessed this morning.
At 8:50 AM Tokyo time, they released one sentence that ends 35 years of monetary fantasy:
"日本の実質政策金利は、世界的に見ても最も低い水準です。"
They raised to 0.75%. The highest since 1995.
And they're telling you they've BARELY BEGUN.
Here's what Wall Street is missing:
30-year JGB yields hit 3.45% last week.
That's not a "high."
That's an ALL-TIME RECORD.
The arithmetic is merciless:
→ $14.2 TRILLION in yen derivatives must reprice
→ Japanese life insurers are 54% UNHEDGED on foreign bonds
→ Regional banks sitting on ¥3.3T unrealized losses (up 260% since March 2024)
→ US office CMBS delinquencies at 11.76%…EXCEEDS 2008 CRISIS PEAK
Norinchukin already blew up. Lost $12.6 billion. Sold $63 billion in foreign bonds.
Their solution? Pivot into $63 billion of CLOs.
They didn't eliminate risk. They relocated it.
Germany just overtook Japan as world's largest creditor first time in 34 years.
The tide has turned.
August 2024 gave you the preview: Nikkei crashed 12.4% in ONE DAY. VIX hit 65.73.
That was the trailer.
Q1-Q2 2026 is the feature film.
The BOJ's own words: "中立的金利水準までまだかなりの距離があります。"
Translation: 100-175 more basis points coming.
Watch the basis. Watch the yen. Watch the regional banks.
The 35-year experiment is ending.
Position accordingly.
$BTC
The Bank of Japan just confessed this morning.
At 8:50 AM Tokyo time, they released one sentence that ends 35 years of monetary fantasy:
"日本の実質政策金利は、世界的に見ても最も低い水準です。"
They raised to 0.75%. The highest since 1995.
And they're telling you they've BARELY BEGUN.
Here's what Wall Street is missing:
30-year JGB yields hit 3.45% last week.
That's not a "high."
That's an ALL-TIME RECORD.
The arithmetic is merciless:
→ $14.2 TRILLION in yen derivatives must reprice
→ Japanese life insurers are 54% UNHEDGED on foreign bonds
→ Regional banks sitting on ¥3.3T unrealized losses (up 260% since March 2024)
→ US office CMBS delinquencies at 11.76%…EXCEEDS 2008 CRISIS PEAK
Norinchukin already blew up. Lost $12.6 billion. Sold $63 billion in foreign bonds.
Their solution? Pivot into $63 billion of CLOs.
They didn't eliminate risk. They relocated it.
Germany just overtook Japan as world's largest creditor first time in 34 years.
The tide has turned.
August 2024 gave you the preview: Nikkei crashed 12.4% in ONE DAY. VIX hit 65.73.
That was the trailer.
Q1-Q2 2026 is the feature film.
The BOJ's own words: "中立的金利水準までまだかなりの距離があります。"
Translation: 100-175 more basis points coming.
Watch the basis. Watch the yen. Watch the regional banks.
The 35-year experiment is ending.
Position accordingly.
$BTC
73