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The Only Negative Yielding Debt That's Out There in the World
The Bank of Japan surprised everybody and said they're going to move that from the holding the rates at 25 basis points up to 50 basis points. And so risk assets all sold off immediately across the world. This is the only negative yielding debt that's out there in the world. So it's not, you know, the, the yen has gotten more expensive for the US, but the yen has got stronger.
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