A Bond Selloff Is Rocking the World. You Might Want to Take the ...

"Japan is the most liquid and easy-to-short market in this time zone," said Zuhair Khan, a senior fund manager at UBP Investments in Tokyo. "When you have global macro investors who take a negative view about Asia, then [Japan] is the market you use."

Back during the March 2020 sharp stock market crash, investors initially fled into bonds as one would expect in a risk-off crisis, meaning that bond yields went down and bond prices went up. But then as the dollar index spiked, the crisis became bad enough that there became a large number of forced sellers of bonds in order to get dollars and servi