Today's Macro Minute explores why Japan's evolving fiscal and monetary policies could have far-reaching implications for global capital flows and the U.S. Treasury market. Darius explains how Japan's push toward durable reflation, combined with slowing global savings growth and rising U.S. financing needs, reinforces 42 Macro's long-term Paradigm A thesis and why the Fed may ultimately have no choice but to continue monetizing U.S. sovereign debt.