From what I’ve heard/read, the bullish thesis around the Japan decision is based on the fact that they will no longer be selling their significant U holdings to the market. This has taken away an expected future supply.
You mention the inventory was not known at the time of Mark II, but also that the report you cite was released in Mar 2022. Was this report missed at the time of writing Mark II?
Echoing Malcolm's comment as well. Wasn't Japanese restarts bullish because it limits a source or a supply (re-selling)?
From what I’ve heard/read, the bullish thesis around the Japan decision is based on the fact that they will no longer be selling their significant U holdings to the market. This has taken away an expected future supply.
It takes guts to be contrarian, keep it up! Just because all run in on direction it does not mean, they are right.
You mention the inventory was not known at the time of Mark II, but also that the report you cite was released in Mar 2022. Was this report missed at the time of writing Mark II?
Echoing Malcolm's comment as well. Wasn't Japanese restarts bullish because it limits a source or a supply (re-selling)?