He’s right.
Ironically when Japan announced their first QE the Fed arrogantly laughed at the idea in the 1990’s before doing the exact same thing following 2008.
Now here we are again: pic.twitter.com/wEx5TcvCtC
— QE Infinity (@StealthQE4) January 22, 2026
The BOJ's failure to act will have dire consequences for its own economy and severe carry trade implications moving forward.
The bond market is cracking down hard and will continue to do so if the BOJ doesn't act.
Stagflation is becoming a serious issue and is about to… pic.twitter.com/pSGxlPeKGB
— The Great Martis (@great_martis) January 22, 2026
⚠️THIS IS INSANE:
Japanese 30-year government bond prices are down -52.5% from their 2020 peak, the worst drawdown in at least 30 years.
This comes as Japanese bond yields have surged to 3.8%, an all-time high, up from 0.2% over this period.
The recent collapse in prices is… pic.twitter.com/DLk0KP59j0
— Global Markets Investor (@GlobalMktObserv) January 22, 2026
Japan’s 10-year government bond yield jumped 20+ bps in just three trading days.
That is a big move for an asset designed to be boring, stable, and low-volatility.
When something "safe" moves like that, markets pay attention. pic.twitter.com/Fzp5rJ8wSP
— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) January 21, 2026
⚠️THIS IS INSANE:
Japanese 30-year government bond prices are down -52.5% from their 2020 peak, the worst drawdown in at least 30 years.
This comes as Japanese bond yields have surged to 3.8%, an all-time high, up from 0.2% over this period.
The recent collapse in prices is… pic.twitter.com/DLk0KP59j0
— Global Markets Investor (@GlobalMktObserv) January 22, 2026
The Fed started cutting rates in Sep 2024 with the 30-year Treasury yield below 4%.
They've now cut 175 bps and the 30-year is above 4.9%.
The Fed may be done with inflation, but inflation isn’t done with the Fed. pic.twitter.com/tZl24kufAB
— Charlie Bilello (@charliebilello) January 21, 2026
The bond market has completely rejected the Fed’s rate cut.
Yields have ripped higher following an initial drop on the rate cut announcement.
The rate cuts had the exact opposite effect of what the Fed wanted.
Mortgage rates will now spike. pic.twitter.com/ARdNrdLCPT
— QE Infinity (@StealthQE4) September 18, 2025