Have we seen this movie before? The simultaneous decline in Japanese bond yields and its currency (USDJPY) is reminding Deutsche Bank's head of currency research of Liz Truss's ill-fated premiership, when sterling and U.K. gilts tumbled in value after the introduction of what's called a mini-budget. New Japanese Prime Minister Sanae Takaichi differs from Truss in that she wants to spend rather than cut taxes, but both plans amount to aggressive fiscal stimulus. The U.S. dollar and U.S. Treasury bonds also fell simultaneously in April in reaction to President Donald Trump's "Liberation Day" tariff plan, which ... (full story)