Is the treasury’s yen intervention a blatant attempt to ease the unwinding carry trade?

So you get levered to the tits borrowing yen, exchange for USD, buy US treasuries (not that it has to be T-bills but historically its low risk), pocket the difference. US treasury yields are pushed artificially lower because you’re buying them with house money (your borrowed yen). You’re making a shit ton of money, doing blow out of a high end escorts buttcrack. Life’s good.

Japan starts raising rates (from 0% in 2024 now 1% and climbing.) still a decent gap between the yen interest rates but the yen’s weak AF, gotta rethink the strat. What if you don’t have enough money for the hookers…WHAT IF YOU DONT HAVE MONEY FOR BLOW?!

Treasury secretary goes to a press conference, leaves out a piece of paper saying “to do: buy a fuck ton of Yen” (I refuse to believe this was anything other than telegraphing to the forex markets, he also buys using Euros cuz he hates the French specifically) Yen gets propped up, use yen to buy USD, Treasury yields remain artificially low, treasury happy.