US Treasury Secretary Scott Bessent’s move to prop up the yen was as surprising as its impact was fleeting. By Monday, the yen lost half of its gains since last month’s intervention, raising questions about what comes next.

On today’s Big Take podcast, Bloomberg’s Daniel Flatley and Chris Anstey join David Gura to break down Bessent’s unorthodox currency strategy and to explore how far Bessent might be willing to go to support another country’s currency.

Read more:

How Bessent Brings a ‘Buy-Side’ Mindset to Economic Statecraft

Behind Bessent Moves, Wall Street Sees a Bond-Market Angst

Listen More:

Why a Weak Yen Is America’s Problem

Carry Trades, Explained

Hosted by David Gura; Produced by Laura Newcombe and David Fox; Reported by Daniel Flatley and Chris Anstey; Edited by Jeffrey Grocott.

Fact-checking by Victor Swezey and Brunella Tipismana Urbano; Engineering by Emma Munger.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

US Treasury Secretary Scott Bessent&rsquo;s move to prop up the yen was as surprising as its impact was fleeting. By Monday, the yen lost half of its gains since last month&rsquo;s intervention, raising questions about what comes next.
On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s Daniel Flatley and Chris Anstey join David Gura to break down Bessent&rsquo;s unorthodox currency strategy and to explore how far Bessent might be willing to go to support another country&rsquo;s currency.
Read more:
<a href="https://www.bloomberg.com/news/newsletters/2026-08-07/how-bessent-brings-a-buy-side-mindset-to-economic-statecraft">How Bessent Brings a &lsquo;Buy-Side&rsquo; Mindset to Economic Statecraft</a>
<a href="https://www.bloomberg.com/news/articles/2026-08-09/behind-bessent-moves-wall-street-sees-sign-of-bond-market-angst">Behind Bessent Moves, Wall Street Sees a Bond-Market Angst</a>
Listen More:
<a href="https://podcasts.apple.com/us/podcast/why-a-weak-yen-is-americas-problem/id1578096201?i=1000779936408">Why a Weak Yen Is America&rsquo;s Problem</a>
<a href="https://podcasts.apple.com/us/podcast/carry-trades-explained/id1746141911?i=1000668218834">Carry Trades, Explained</a>
Hosted by David Gura; Produced by Laura Newcombe and David Fox; Reported by Daniel Flatley and Chris Anstey; Edited by Jeffrey Grocott.
Fact-checking by Victor Swezey and Brunella Tipismana Urbano; Engineering by Emma Munger.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

The Hedge Fund Toolkit Behind the Yen Intervention

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/1d212339-5e2d-4b50-b9f5-b4a20150b7d8/transcript