The Japanese Yen Stuns Markets in the Global Liquidity Reroute: A classic financial lesson rewritten: what gets cheap as

Sharp volatility hit global liquidity after the Bank of Japan changed course, reminding traders of yen-funding carry-trade dangers.

A sudden deleveraging wave hit risky assets within hours of the direction change.

Major central banks rushed to signal readiness to ease if the correction prolonged.

A classic financial lesson rewritten: what gets cheap as funding leverage can rebound hard when conditions shift.