A Credit Suisse-style collapse is imminent in Japan, and there’s no easy or inexpensive fix for the disaster that’s brewing.

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If Norin sells foreign bonds now, it suggests deep liquidity trouble beyond CLOs.
https://twitter.com/Bogachan_1971/status/1892415980887855409

Japan’s second-largest bank, Norinchukin, is deep in a liquidity crisis, and it’s becoming nearly impossible to hide its mounting losses.

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