As Japan seeks revival, hedge funds bet on a bust
TOKYO (AP) - Until a couple of months ago, Takashi Yamada had one of the most genteel jobs in Japan. Now, his days are so harried he doesn't have time to eat lunch.
Yamada, 45, is a government-bond trader at major brokerage Daiwa Securities Co.
Shock-and-Awe monetary policies, announced in April, have sent Japanese government bonds, this nation's equivalent of US Treasurys, into a whirl of volatility.
"Our job is about interest rates, and that's supposed to be like rice in a meal, not steak, something basic but needed," Yamada said, looking weary and a bit out of breath, after nonstop juggling of bond selling and buying on several monitors at his desk.