Alicia García Herrero (Natixis) | Financial markets were caught off guard when the Bank of Japan (BoJ) adjusted its monetary policy on December 20th, 2022. The Bank decided to lift the ceiling on the 10-year JGB yield to 0.5% from 0.25% under the yield control (YCC). One interesting point to make is that the BoJ did not take the decision against the wall. In fact, the upward pressure on the…
Alicia García Herrero (Natixis) | The assassination on 8 July 2022 of Japan’s longest-serving prime minister Shinzo Abe was one of the most shocking and saddest events in contemporary Japanese history. Abe had surprised Japanese citizens with his sudden health-related resignation in 2020. His resignation opened the way for Japan’s then foreign minister, Fumio Kishida, to win Liberal Democratic Party (LDP) support and the November 2021 general election, to become…
Link Securities | Japan’s GDP contracted by 1% in Q1 2022 from the previous quarter on an annualised basis, a smaller decline than the 1.8% drop expected by analysts. In addition, in the previous quarter Japan recorded GDP growth of 3.8%, revised downwards from an initial estimate of 4.6% growth. The main surprise was a marginal 0.1% annualised fall in private consumption, which is explained as the main drag on…
Alicia García Herrero (Natixis) | As the Yen rapidly depreciates above USDJPY=120, the unintended consequences of the Bank of Japan (BoJ)’s Yield Curve Control (YCC) has become increasingly apparent. Last month, the BoJ announced it would intervene in the JGB market to protect the 0.25% ceiling on the 10-year JGB yields as they were being pushed up by higher US Treasury yields. Furthermore, after the Fed began to tighten last…
Craig Willy via Fair Observer | It will be a busy few years for Japan, which hosts the G20 summit on June 28-29 followed by the Tokyo Olympics in 2020. The international attention sparks questions concerning how durable its economic success will be.
Japan’s Prime Minister, Shinzo Abe, called a snap election on Monday, cashing in on the increase in popular support for his hard line against North Korea’s ballistic missile programme.
Julius Baer | Japan’s Q2 growth missed forecasts, confirming expectations for a sluggish economy, on weak exports and business investment. GDP expanded at an annualised pace of 0.2%, missing estimates for a 0.7% increase.
Japan’s economy contracts in Q2, as exports and consumer spending shrink.
By Shinichiro Kadota, Tal Shapsa at Barclays | March 23, 2015 | Japan’s Flow of Funds data show that Japanese investors continued to rebalance their portfolio away from domestic bonds into foreign assets in Q4 14, while their flows into domestic equities were more muted. Such dynamics were evident throughout 2014, as Japanese investors accumulated foreign assets at a solid pace.
SAO PAOLO | By Marcus Nunes | Shinzo Abe was elected in December 2012 on a promise to revive growth and put an end to deflation. How have his promises ‘performed’ one year after taking power? The ‘performance’ of the so-called Abenomics will be illustrated by a set of charts.