CNN: The Japanese yen is at a 40-year low. Here’s why that matters

‘“Japanese currency intervention efforts are typically conducted at a scale far too small — tens of billions against roughly $29 trillion in marketable Treasuries — to have a material impact on US yields,” Karl Schamotta, chief market strategist at Corpay Cross-Border Solutions, said in an email … “A ‘shock and awe’ campaign involving much larger trading volumes, especially if coordinated with the US Treasury, could trigger a violent unwind in the carry trade, however, with severe negative implications for US equity markets,” Schamotta added.’

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