BOJ Missed an Opportunity, JPMorgan's Michele Says

The transcript discusses global debt concerns, focusing on Japan's high debt ratios and the Bank of Japan's monetary policies. It highlights the missed opportunities by the BOJ to normalize rates and transition the bond market. The role of Japan in global carry trades is explained, emphasizing the use of low-cost Japanese funding to invest in higher-yield markets like the US.

What concerns might arise from Japan's high percentage of debt ownership?

What opportunity does the speaker believe the Bank of Japan missed?

How does the speaker suggest transitioning the bond market from the Bank of Japan to private investors?

What implications does the speaker foresee for global assets due to Japan's financial strategies?

Explain the concept of a carry trade as described in the text.