.....BIG NEWS!
Norinchukin, which holds 20% of all foreign bonds held by Japanese banks, is starting a firesale to plug its 2.2 trillion yen in unrealized losses because in Japan they don't have a BTFP facility.
The Music Just Stopped: Japan Banking Giant Norinchukin To Liquidate $63 Billion In Treasuries & European Bonds To Plug Massive Unrealized Losses
