Japan’s rocky road

plus: inflation is stuck, BTC resilience, censorship, empire and more

“Tactics without strategy is the noise before defeat.” – Sun Tzu ||

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IN THIS NEWSLETTER:

• Japan’s rocky road

• Inflation is stuck

• Macro-Crypto Bits: BTC resilience, tariffs, empire, censorship

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WHAT I’M WATCHING:

Japan’s rocky road

Yesterday, I mentioned concerns around this weekend’s upcoming legislative body elections in Japan as one of the drivers behind the recent climb in the country’s bond yields. This is worth a bit more explanation as it is symptomatic of trends we’re seeing, well, pretty much everywhere.