The global carry trade just hit a brick wall. 🇺🇸

Speculators spent a generation borrowing cheap Yen to buy expensive US assets.

Today, that anchor finally snapped.

Japan has officially ended its era of zero-interest rates, sending its 10-year bond yields to a 27-year high.

This isn't just a "market dip"; it is a structural liquidation of the world's most crowded leveraged position.

The era of borrowed prosperity is ending, and the global bills are coming due.

The free lunch is over. Pay up.