A Japanese bank giant announced it was going to begin selling tens of BILLIONS in USTs and other European government bonds knowing full well the institution is going to take huge losses on the sales. Is this the start of another bank run? Will this kill the Treasury market?
Eurodollar University's Money & Macro Analysis
About Norinchukin Bank
https://www.nochubank.or.jp/en/about/
Norinchukin Financial Summary Fiscal Year 2023
https://www.nochubank.or.jp/en/ir/results/pdf/cap_results2023_04_02.pdf
Bloomberg Echoes of 2009 Crisis Thrust Japanese Bank Norinchukin Back Into Spotlight
https://www.bloomberg.com/news/articles/2024-05-21/japan-s-bank-for-farmers-and-fishermen-returns-to-spotlight-for-overseas-losses
Bloomberg Norinchukin Bank to Sell $63 Billion of Sovereign Bonds
https://www.bloomberg.com/news/articles/2024-06-18/norinchukin-bank-to-sell-63-billion-of-bonds-to-stem-losses
Bloomberg A $1.3 Trillion Fund Pool for Junk-Rated US Firms Has Unlikely Lifeline: Japan's Banks
https://www.bloomberg.com/news/articles/2023-04-20/the-1-3-trillion-clo-market-grows-more-dependent-on-japan-banks
FRBNY Standing Repo Facility Approved Counterparties
https://www.newyorkfed.org/markets/srflist-231201
CBO Budget Update June 2024
https://www.cbo.gov/system/files/2024-06/60039-Outlook-2024.pdf
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Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.