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Search resuls for: "Prashant Newnaha"


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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Japan's attempts to defend the yen have put them 'in a difficult situation': FX StrategistPrashant Newnaha of TD Securities discusses the Bank of Japan's bond buying exercise in September and his expectations for a phased removal of the yield curve control and negative interest rate policies.
Persons: Prashant Newnaha Organizations: Email Bank, TD Securities, Bank of
"The omission of this sentence reads hawkish in our view and may spell further rate hikes ahead from the RBA." Adam Boyton, head of Australian economics at ANZ, expects the RBA to raise interest rates by another quarter-point in August. In the policy statement, Lowe said the latest rate increase will "provide greater confidence that inflation will return to target within a reasonable timeframe." The RBA has increased interest rates by a whopping 400 basis points since May last year, the most aggressive tightening cycle in its modern history. "As the RBA takes rates higher, the risk of a greater slowing in the economy is rising," said Tapas Strickland, head of market economics at NAB.
Persons: Prashant Newnaha, Adam Boyton, Lowe, Tapas Strickland, Stella Qiu, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, Securities, Australian, ANZ, Graphics Global, Federal, NAB, Thomson Locations: Asia, Australia
Japanese investors turn net buyers of overseas bonds in January
  + stars: | 2023-02-13 | by ( ) www.reuters.com   time to read: +2 min
According to data from Japan's Ministry of Finance, Japanese investors purchased a net 1.56 trillion yen ($11.79 billion)worth of foreign bonds in January, marking their biggest buying spree since September 2021. Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities, said Japanese buyers were likely buying foreign bonds on an unhedged basis. "Buying FX-hedged foreign bonds makes little sense given Japanese government bonds are a more attractive option," he said. The data showed that in the first week of February, Japanese investors bought 1.1 trillion yen worth of overseas bonds. Meanwhile, domestic investors also poured 1.67 trillion yen into foreign equities in January in a second straight month of net buying.
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