When even big-name mainstream Economists are begging the Fed for emergency rate cuts, you might already have the sense this wasn't just a one-weekend show. US recession scrambles a lot of fundamental perceptions and values, causing a substantial and sizable repricing across asset classes. That repricing just happened to be most obvious and violent in Japan.
 
Eurodollar University's Money & Macro Analysis

Paul Krugman X
https://x.com/paulkrugman/status/1820426175031673269

CNBC Wharton’s Jeremy Siegel says Fed needs to make an emergency rate cut
https://www.cnbc.com/2024/08/05/whartons-jeremy-siegel-says-fed-needs-to-make-an-emergency-rate-cut.html

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