The 10- and 30- year Treasury yields just hit their highest levels since 2007, sending prices down. And at the same time, equities moved in the same direction. That’s not supposed to happen. Today on the show, we try to figure out what is happening and why. Also we short our previous long on Three Arrows Capital and go long the Japanese yen. Links:Please join the FT and Nikkei for a webinar on the revival of the Japanese stock market on Wednesday October 11 at 14:00 London time: japanesestockmarketrevival.live.ft.comFor a free 90-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferFollow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X, formerly Twitter. You can email Ethan at ethan.wu@ft.com.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.