Japanese automakers hit by Iran war and yen surge

Japanese automakers face direct cost spikes from sustained high Brent near 88 dollars and a stronger yen that raises imported input prices without offsetting export relief.^[1][2] This supply-chain pressure arrives while Bitcoin sits at 63467 dollars with exchange outflows still modest and MVRV at 1.19, offering little cushion if risk assets reprice lower on persistent energy inflation. The overlooked tension sits in the Treasury curve, where 10-year yields near 4.69 percent and a 0.52-point steepener show buyers demanding compensation even as the new Fed chair delivers minimal guidance and no easing path.^[3][4] How long can Treasury demand hold at these levels before liquidity stress reaches equities and crypto?