[Arthur Hayes: Pay Attention to the Fed's H.4.1 Report, Analyze Japan's Ministry of Finance Intervention in Yen Exchange Rate] Arthur Hayes stated that the market needs to focus on the Federal Reserve's H.4.1 balance sheet report released this week to confirm whether Japan's Ministry of Finance has obtained U.S. dollars by repurchasing U.S. Treasury bonds and used them to buy yen. Arthur Hayes pointed out that if Bessent pushes to increase counterparty limits, the Federal Reserve could release liquidity based on U.S. Treasury bonds held by Japan's Ministry of Finance as collateral.