Dollar Deflation Continues in Japan; Germans Hoard Cash and Gold

Bloomberg: Escape From Negative Japan Rates Wrecked by Record Hedging Costs
The Bank of Japan’s negative interest rate policy is making it more expensive for domestic banks to hedge dollar investments, threatening to slow their escape from negative rates into U.S. currency debt.

ZH: "This Is An Extremely Serious Problem" - Dollar Funding Shortage Hits Record In Japan

ZH: World’s Second Largest Reinsurer Buys Gold, Hoards Cash To Counter Negative Interest Rates
“We are just trying it out, but you can see how serious the situation is,” von Bomhard said.

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