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☆ Japan to benefit from a stronger yen and unwinding of carry trade, Monex Group's Koll says
▼ + stars: | 2024-08-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

In this article 8301.T-JP Follow your favorite stocks CREATE FREE ACCOUNTwatch nowCorrections in the yen and the unwinding of the carry trade are positive developments for Japan, said Jesper Koll, a veteran investor who remains bullish on the Japanese market. The yen carry trade began unwinding last week, as interest rate hikes by the Bank of Japan strengthened the yen, and led to a sharp sell-off in markets globally. Stock Chart Icon Stock chart icon U.S. dollar/Japanese yen"It is correct to put a price on money. According to Koll, it's possible that as much as 75% of the yen carry trade could have been unwound, though the total size of the carry trade has not been reliably ascertained. Stock Chart Icon Stock chart icon Nikkei 225

Persons: Jesper Koll, …, CNBC's, unwinding, it's, Koll, Claude Trichet Organizations: Monex, Bank of Japan, Nikkei, European Central Bank Jean, CNBC, U.S ., Bank of Locations: Japan, U.S

☆ Correction in the yen was overdue, former European Central Bank chief Trichet says
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCorrection in the yen was overdue, former European Central Bank chief Trichet saysJean-Claude Trichet, former president of the European Central Bank and former governor of the Bank of France, discusses Monday's sharp market movements and the next steps for the U.S. Federal Reserve.

Persons: Trichet, Jean, Claude Trichet Organizations: European Central Bank, Bank of France, U.S . Federal Reserve

☆ Correction in the dollar-yen was overdue and may be 'healthy' for markets, former ECB chief says
▼ + stars: | 2024-08-06 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A carry trade involves an investor borrowing a currency with low interest rates and reinvesting it in higher-yielding assets elsewhere — taking advantage of that differential to make a financial gain. Investors piled into yen carry trades in recent years, attracted by Japan's low volatility and ultra-loose monetary policy. Global stock markets meanwhile plunged as "safe haven" assets such as the Swiss franc and U.S. Treasurys were bolstered. "You can't unwind the biggest carry trade the world has ever seen without breaking a few heads," Kit Juckes, chief foreign exchange strategist at Societe Generale, said in a Monday note. Trichet told CNBC Tuesday: "The correction can be seen as a healthy correction, in some respects.

Persons: it's, Jean, Claude Trichet, CNBC's, Treasurys, Kit Juckes, Trichet Organizations: European Central Bank, ., Bank of Japan, U.S, Global, Swiss, Societe Generale, CNBC, Federal Locations: France's, U.S, Europe, United States

☆ 'Blowout' in French borrowing costs still to come amid economic deadlock, veteran investor says
▼ + stars: | 2024-07-10 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

watch nowFrench borrowing costs still face a "blowout" over those of Germany, as political and economic reality sets in following the country's parliamentary election, according to veteran investor David Roche. Bond yields move inversely to prices and represent the change in borrowing costs for a government — also indicating long-term investor confidence in the economy. Now, my view is that it will happen," Roche told CNBC's "Squawk Box Europe" on Tuesday. watch nowAlong with economic growth prospects, a key watch-point for investors is France's hefty budget deficit and high debt-to-GDP ratio of 110%. There are about seven major pillars, they suddenly will go absolutely nowhere, which is disastrous for Europe," Roche told CNBC.

Persons: David Roche, Jean, Claude Trichet, —, Emmanuel Macron, Roche, CNBC's, shorting, Macron, " Roche Organizations: European Central Bank, CNBC, Quantum, French National Assembly, European Commission, National Locations: Germany, France, Europe, Italy, Ukraine

☆ Former Bank of France President Trichet: Reasonably confident France will find political solution, no current party can rule alone
▼ + stars: | 2024-07-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Bank of France President Trichet: Reasonably confident France will find political solution, no current party can rule aloneJean-Claude Trichet, former Governor of the Bank of France and former president of the European Central Bank, shares his outlook for the French hung parliament and mentions which economic plan he sees as a 'catastrophe' for the country.

Persons: Trichet, Jean, Claude Trichet Organizations: Former Bank of France, Bank of France, European Central Bank Locations: France

☆ ECB's rate hike decision is 'appropriate,' former president says
▼ + stars: | 2023-06-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB's rate hike decision is 'appropriate,' former president saysJean-Claude Trichet, former president of the European Central Bank, says its decision to raise its main rate up by 25 basis points to 3.5% is appropriate "[under] the circumstances."

Persons: Jean, Claude Trichet Organizations: European Central Bank

Unlike much of the past 15 years, euro strength is on the ECB's side as it meets on Thursday. Indeed, ECB President Christine Lagarde and chief economist Philip Lane littered speeches with warning shots about an excessive euro strength when the euro last snarled up to this extent in October 2020. Lagarde's predecessors Mario Draghi and Jean-Claude Trichet similarly weighed in with verbal intervention to cool periodic 10% surges in the trade-weighted euro over its history. Euro strength has built on belated ECB interest rate hikes since July - up some 350 basis points to 3.0% so far and expected to go up at least another 25 bps this week. So should euro strength be finally embraced by ECB as way of slaying the inflation beast?

☆ Former ECB President Jean-Claude Trichet weighs in on Credit Suisse and ECB next steps
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer ECB President Jean-Claude Trichet weighs in on Credit Suisse and ECB next stepsJean-Claude Trichet, former ECB president, joins 'Squawk on the Street' to discuss the ECB's next steps.

☆ European Central Bank's 50 basis point rate hike was the right call, former ECB president says
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuropean Central Bank's 50 basis point rate hike was the right call, former ECB president saysJean-Claude Trichet, former president of the European Central Bank, says it made the "right blend" of decisions.

But while the notion of a potential shift in Federal Reserve policy is perfectly reasonable and logical, the word "pivot" - like "transitory" and others before it - should be binned. Shorthand can easily morph into broad-brushed assumptions, leaving traders tied in knots over particular words without really understanding their meaning. When everyone's models are programmed to grab the same word, phrase, or signal, herding behavior and one-way markets can ensue. chartSimilarly, the current obsession on when the Fed will "pivot" away from its most aggressive rate-hiking campaign in 40 years has been perhaps the single biggest driver of financial markets in recent months. chartAvoiding talk of a pivot will reduce the risk of damaging the Fed's credibility in the eyes of some sections of the public and financial markets, as happened with "transitory."

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