US buys yen to stop Japan from wrecking America’s bond market

Japan is the largest foreign holder of US Treasuries, and its currency – the yen – is in trouble. The yen recently hit a 40-year low against the US dollar. The US Treasury had joined Japan’s finance authorities in an intervention last week ​to prop up the yen. Japanese investors collectively own about $1 trillion […] By Nandita Lal