https://gyokuro.dev/en/tags/japan-energy/ Recent content in Japan-Energy on Gyokuro Time https://gyokuro.dev/images/gyokuro-avatar.png https://gyokuro.dev/images/gyokuro-avatar.png Hugo -- 0.147.4 en Wed, 08 Apr 2026 00:00:00 +0000 https://gyokuro.dev/en/posts/selling-the-gulf-put/ Wed, 08 Apr 2026 00:00:00 +0000 https://gyokuro.dev/en/posts/selling-the-gulf-put/ <p>The incentive structure around US Gulf policy resembles a sold put on regional stability. The licensing portfolio, the 10-year yield and the petrol price all sit on the same side of the strike. The gamma is short. The implications reach the BOJ.</p> <hr> <p>This blog has spent the past month tracking Bessent&rsquo;s financial containment of the Iran crisis: the SPR releases, the unsanctioned crude, the yield curve management. A question that keeps surfacing is whether the Trump Organization&rsquo;s commercial presence in the Gulf reinforces that containment bias.</p>