We remain bullish the yen, despite the BoJ maintaining yield curve control. In this report, we outline a few reasons for this stance.
We remain bullish the yen, despite the BoJ maintaining yield curve control. In this report, we outline a few reasons for this stance.
While the housing downturn will be fairly mild in the US, it will be more severe abroad. Continue to favor bonds of countries whose housing fundamentals will limit rate hikes.
Tokyo’s CPI inflation firmed in December. The headline measure accelerated from 3.7% y/y to 4.0% y/y while the core figure increased from 2.4% y/y to 2.7% y/y. Notably, ex-fresh food CPI inflation grew by a wider-than-…
The BoJ shocked markets on December 20 by doubling its cap on Japan’s 10-year bond yield, now allowing it to rise to 0.5% from 0.25% previously. The December central bank meeting was widely expected to result in no change…
This week, we look at the latest data releases in the G10, along with implications for all the major currencies.
In this, our final report of a tumultuous year, we summarize our policy outlook for the “Big 4” central banks – the Fed, the ECB, the Bank of England (BoE) and the BoJ – and the associated bond market implications for 2023.
The Tankan survey for Q4 underscored a dichotomy in sentiment between Japan’s manufacturing and service sectors. Japan’s largest manufacturing firms’ assessment of current business conditions deteriorated for…
The latest US and Eurozone CPI inflation releases both surprised to the downside, fueling optimism among investors that central banks will soon pivot. However, US labor market dynamics remain very tight. The November…