The short yen/long Japanese equities has been a popular position among hedge funds over the last year, at times becoming extremely crowded, and now Societe Generale analyst Albert Edwards has thrown his weight behind the trade despite being long on sovereign bonds for nearly twenty years. Albert Edwards reverses long-held stance on Japanese bonds “Although I haven’t yet become a fully paid up member of the Kyle Bass/Dylan Grice/John Mauldin view that the Japanese bond market is ‘a bug looking for a windshield’, I certainly am coming around to their view – and I speak as a long term deflationist who…