According to CoinMeta, Arthur Hayes indicates that the market needs to pay attention to the H.4.1 balance sheet report released by the Federal Reserve this week to determine whether the Japanese Ministry of Finance is obtaining dollars by repurchasing U.S. Treasury bonds and then buying yen. He pointed out that if Bessent leads to an increase in counterparty limits, the Federal Reserve could release liquidity based on the U.S. Treasury bonds held by the Japanese Ministry of Finance as collateral.