Before tech earnings this week, someone talk me out of buying QQQ puts. Japan is also the lingering Giant in the background.
What Gayed’s been hammering home… People will say he’s been saying this forever, same was said about Schiff, doesn’t matter if your early, just matters your right).
“Japanese bond yields have surged sharply in early 2026 (with long-end JGBs like 30- and 40-year hitting record highs), narrowing the interest rate differential that long made borrowing cheap yen to invest in higher-yielding assets (including U.S. Treasuries and global equities) attractive. As the yen strengthens and funding costs rise, investors are forced to unwind these leveraged positions — selling U.S. stocks and Treasuries, which pushes yields higher and exacerbates bond-market stress.
Authorities (including potential Fed support for the yen - ALREADY HAPPENING) prioritize preventing a disorderly bond rout over protecting equities. A controlled equity correction helps reverse risk-off flows, eases upward pressure on yields, and averts broader credit/funding dislocations tied to the carry trade unwind. His blunt take: 'They will crash stocks to save bonds. They have to.'"