The Bank of Japan delivered a historic policy adjustment this week, ending both negative interest rates and Yield Curve Control. In this Insight, BCA’s global fixed income and currency strategists discuss the immediate implications…
Japanese equities and government bonds sold off on Monday and the yen strengthened following the release of the revised Q4 GDP report showing the economy expanded by an annualized 0.4% q/q in Q4 2023 versus earlier estimates of a…
As we discussed in a recent Insight, the krone is the top pick for our Foreign Exchange Strategy team. The krone upgrade is one of the most significant changes in our colleagues’ attractiveness ranking model. Norway has the…
This week, we review our currency positions, based on the latest data from G10 economies.
Amid patchy global growth, the US economy remains resilient. However, tight monetary policy will eventually trigger a recession in the US too. The stock market rally has been very narrow. Stay underweight risk assets.
Japan’s CPI inflation dropped from 2.6% to 2.2% y/y in January. However, the sharp slowdown comes on the back of falling energy prices. Meanwhile, the BoJ’s core-core measure of underlying inflation (CPI excluding…
Japanese equities have outperformed their global peers since September 2022 in common currency terms. Over this period, the Nikkei 225 and the TOPIX posted gains of close to 50%. A weak yen has boosted Japanese multinationals…
This week’s report explores factors behind the recent rise in the dollar, and whether this could continue in the next month.
When will the US also buckle under high rates? We expect a US recession to begin around mid-year. Stay defensive.