Bessent Issues Warning: Don't Bet Against Him on Yen Intervention

Treasury Secretary Scott Bessent has issued a warning to investors, stating that they should not bet against him. He claimed to have 'asymmetric information' on yen intervention, which has led to a strengthening of the currency and the unwinding of a $2 trillion+ carry trade.

The recent coordinated interventions by the US and Japan have raised market risk, and Bessent's comments suggest that he is prepared to take action to maintain stability. He emphasized that investors should be cautious of disorderly moves in the market.

Analysts are warning that a break below 152 for USD/JPY could signal a risk-off environment, while a controlled yen squeeze remains possible if the currency holds above this level and Treasuries remain stable.