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Daily Pulse

Japan Just Put the Yen Carry Trade Back on the Screen

Also flagged in this morning's Morning 10 — point nine, the second watchpoint of the day.

Thomas Look's avatar
Thomas Look
Jul 14, 2026
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What is the buzz

Japan’s finance minister has urged the country’s giant pension funds — including the roughly $1.8 trillion GPIF — to invest more at home. Markets immediately understood the subtext.

So what

Traders read the proposal not simply as pension policy, but as a form of “stealth intervention”: redirect more Japanese savings into Japanese assets, c…

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