Inflation/Deflation
Canada’s Retail Sales Grow For Two Consecutive Months…
The BoJ’s Dovish Pause
The…
The Paradox Of A Weak NOK…
Japanese Banks Face Crosscurrents…
What To Watch
What To…
A Second Wave Of Inflation…
In this report, we argue that the Bank of Japan is unlikely to hike interest rates this week, but the relative trajectory of bond yields in Japan is higher. This warrants an underweight position in JGBs and a leveraged bet on a higher yen. The positioning for equity investors is murkier, as progress on corporate reforms is necessary for a rerating in Japanese shares. That is not yet very clear. The bottom line is: Stay long the yen.
We update our bond views following today’s 50 bps rate cut.
Hotter August UK CPI Doesn’t Impact BoE Meeting Outcome…
It’s 50 Bps, And The Dots Are Significantly Lower…