The February Tokyo CPI print came in slightly cooler than expected. Headline inflation moderated to 2.9% y/y from 3.4%, while “core core” was steady at 1.9%. The Tokyo CPI gives an advance reading on national price pressures,…
The US (and the UK) is staring down the barrel of a ‘mini-stagflation’ until a deflationary shock arrives to neutralise it. We describe a likely source for the deflationary shock and list three investment conclusions that are valid…
Our China strategists assessed the outlook for Chinese stocks in the aftermath of the DeepSeek hype. DeepSeek’s innovations will boost China’s productivity and technological advancement but are unlikely to create a strong…
In this webcast, Dhaval will give an update on his key views for 2025. The discussion will include:
Why the US is heading into ‘mini stagflation’.
Why the BoJ must hike interest rates, and the global consequences.
The outlook…
Preliminary estimates of Q4 real GDP growth in Japan was stronger than expected, rising to 2.8% q/q annualized from 1.7% in Q3. Domestic demand remained strong, and the GDP deflator increased to 2.8% y/y. Japan’s economy is…
The January Tokyo CPI came in stronger than expected, with headline inflation accelerating to 3.4% y/y from 3.0%, and “core core” (ex. fresh food and energy) accelerating to 1.9% from 1.8%. The jobless rate also decreased 0.1% to 2.4…
In today’s Strategy Insight, we discuss the monetary policy outlook for the Bank of Japan, following the 25-bps rate hike overnight, and what it means for JGBs and the yen.
The Bank of Japan hiked rates by 25 bps as expected to 0.50%, or a 17-year high. The BoJ is currently the only G10 central bank in a hiking cycle, as the hot labor market creates sustained domestic price pressures. …
To kick start our new research agenda at Equity Analyzer, we welcome you to our weekly screener report. Each week we will deliver three screeners highlighting stocks exposed to various macro and investment views and themes, that have…
Our Counterpoint Strategy team sees Japanese real yields as the key risk to global equities. Rising inflation expectations in developed markets, excluding Japan, will keep inflation above target and limit further rate cuts.…