The "free ATM" in Japan may really be shutting down.
In the past decade, the world has been borrowing yen—interest rates are so low it's almost free. Institutions, funds, retail investors, who wouldn't take advantage? Borrow yen, exchange for dollars, and then buy everywhere: tech giants in the US stock market, Bitcoin, Ethereum, emerging markets... earning the interest spread + profiting from appreciation, benefiting on both ends.
But now the Bank of Japan is hinting at raising interest rates, even if it's just by 0.25%, the situation will change.
The cost of borrowing yen has sud
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