Heads up: Potential JPY Surge In Immediate

Flagging massive $1.6bn JPY call options open position

Hey all, I’m currently finishing up a (rather lengthy but) thorough deep dive on how the Bank of Japan (and not the Fed) had put the top in long dated yields (floor in bonds), which then led to momentum in short covering a massively crowded short JGB futures position that had been the key driver for global yields to flip and plummet from Nov 1 (and not …