Bessent Claims Insider Information, Challenges Yen Short Sellers

On September 9, U.S. Treasury Secretary Bessent challenged traders who are shorting the yen, stating that he possesses "insider information." Bessent claimed that the market views his stance as risky, but he believes this is his advantage because he has asymmetric information. He recalled his experience of jointly buying yen with the Japanese government, mentioning that the yen had once strengthened but later retraced its gains, partly due to limited foreign exchange purchasing power. Bessent stated that he is a market maker who can judge the actions of the Japanese government and central bank, inviting traders to go against him.

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