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☆ The World’s Largest Buyer of U.S. Debt Isn’t Going Away
▼ + stars: | 2023-11-27 | by ( Jon Sindreu | ) www.wsj.com time to read: 1 min

Japan is the world’s top holder of U.S. government debt. Photo: kimimasa mayama/ShutterstockCould the largest foreign buyer of American debt suddenly stop buying? Here is a comforting thought: This problem is probably already behind us. At a time when government issuance is massively expanding and firms face a 2025 refinancing cliff, overseas investors have gone from holding 43% of U.S. debt a decade ago to holding just 30%. Adding to the worries, the Bank of Japan might start raising interest rates next year, giving some Japanese owners a reason to repatriate their money.

Persons: kimimasa Organizations: Bank of Japan Locations: Japan

WASHINGTON (Reuters) - Florida Governor Ron DeSantis had a chance in April to address Donald Trump’s growing momentum toward the 2024 Republican presidential nomination. FILE PHOTO: Florida Governor Ron DeSantis talks with journalists after meeting Japanese Prime Minister Fumio Kishida at the latter's official residence in Tokyo, Japan, 24 April 2023. The unforced errors in that early stage had a lasting impact on DeSantis’ campaign, they acknowledged. “The president was dead set on attacking Ron DeSantis as early as possible,” Chris LaCivita, Trump’s co-campaign manager, told Reuters. LESSONS LEARNEDAides say DeSantis’ campaign has sought to make some strategic adjustments.

Persons: Ron DeSantis, Donald Trump’s, Fumio Kishida, KIMIMASA, Trump, DeSantis, coy, I’m, Trump’s, ”, DeSantis ’, “, Chris LaCivita, “ DeSantis, MAGA, LaCivita, ” LaCivita, Ford O’Connell, unelectable, Robert Bigelow, Ryan Tyson, ” David Polyansky, Evan Power, Power Organizations: WASHINGTON, Trump, Reuters, Iowa, TRUMP, Twitter, Republican, Social Security, Medicare, Inc, intoned, Conservatives, DeSantis, U.S, Congress, Republicans, Florida Republican Party Locations: Florida, Tokyo, Japan, New York, Iowa, “, Tallahassee, Lago

Florida Governor Ron DeSantis talks with journalists after meeting Japanese Prime Minister Fumio Kishida at the latter's official residence in Tokyo, Japan, 24 April 2023. Reuters spoke to 16 political operatives and donors close to DeSantis to reconstruct the roughly 10-week period from mid-March - before Trump's first criminal indictment in New York - to DeSantis' campaign launch on May 24. The unforced errors in that early stage had a lasting impact on DeSantis' campaign, they acknowledged. "The president was dead set on attacking Ron DeSantis as early as possible," Chris LaCivita, Trump's co-campaign manager, told Reuters. LESSONS LEARNEDAides say DeSantis' campaign has sought to make some strategic adjustments.

Persons: Ron DeSantis, Fumio Kishida, KIMIMASA, Donald Trump's, DeSantis, Trump, coy, Trump's, Chris LaCivita, MAGA, LaCivita, Ford O'Connell, unelectable, Robert Bigelow, Ryan Tyson, David Polyansky, Evan Power, Power, Gram Slattery, Jim Oliphant, Nathan Layne, Alexandra Ulmer, Ross Colvin, Daniel Flynn Organizations: Rights, Trump, Reuters, Iowa, TRUMP, Twitter, Republican, Social Security, Medicare, Inc, intoned, Conservatives, DeSantis, U.S, Congress, Republicans, Florida Republican Party, San, Thomson Locations: Florida, Tokyo, Japan, New York, Iowa, Tallahassee, Lago, San Francisco

New Governor of Bank of Japan Kazuo Ueda meets Japanese Prime Minister Fumio Kishida at prime minister?s official residence in Tokyo, Japan, April 10, 2023. The discussions took place in the wake of the dollar's recent ascent above 145 yen, a level that in September 2022 triggered Japan's first yen-buying operation since 1998. "There wasn't anything in particular discussed today," Ueda told reporters after the meeting, when asked whether the two held talks on recent exchange-rate volatility. Ueda also said he explained to Kishida the Bank of Japan's decision last month to loosen its grip on long-term interest rates. It was the second such meeting since Ueda assumed the top BOJ post in April.

Persons: Bank of Japan Kazuo Ueda, Fumio Kishida, Kimimasa, Ueda Yen, Kazuo Ueda, Japan's, Ueda, Haruhiko, Shunichi Suzuki, Tetsushi Kajimoto, Satoshi Sugiyama, Chang, Ran Kim, Edmund Klamann Organizations: Bank of Japan, REUTERS Acquire, Ueda, Bank of, Soaring U.S, Treasury, Thomson Locations: Tokyo, Japan, TOKYO

☆ In Contrast to China, Japan at G-7 Basks in Newfound Appeal to Companies
▼ + stars: | 2023-05-21 | by ( Peter Landers | ) www.wsj.com time to read: 1 min

Japan’s central bank forecasts that output will grow 1.4% in the fiscal year ending next March, surpassing the prepandemic peak. Photo: kimimasa mayama/ShutterstockTOKYO—You would think this was the capital of a fast-growing Asian tiger economy the way American CEOs are flocking here these days. Apple ’s Tim Cook , Google’s Sundar Pichai , OpenAI’s Sam Altman , Intel’s Patrick Gelsinger and Warren Buffett are among the bosses to show up in recent months. Better reserve in advance if you want the hotel’s executive suite.

☆ Florida Gov. Ron DeSantis Begins World Tour in Japan, Plays Down 2024 Bid
▼ + stars: | 2023-04-24 | by ( Peter Landers | ) www.wsj.com time to read: 1 min

Florida Gov. Ron DeSantis is on a four-nation tour of U.S. allies. Ron DeSantis said he wasn’t a candidate for president, but he got a welcome worthy of an American political VIP Monday in Japan, his first stop on an around-the-world tour. Striding into the prime minister’s office holding the hand of his wife, Casey, Mr. DeSantis held a roughly 40-minute meeting with Prime Minister Fumio Kishida . He said they discussed North Korean leader Kim Jong Un ’s provocations and the Chinese Communist Party—the sort of issues presidents worry about.

☆ Florida Gov. Ron DeSantis Begins World Tour in Japan, Says He Isn’t Presidential Candidate
▼ + stars: | 2023-04-24 | by ( Peter Landers | ) www.wsj.com time to read: 1 min

☆ DeSantis praises 'strong Japan' military build-up in PM Kishida meeting
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

[1/4] Florida Governor Ron DeSantis shakes hands with Japanese Prime Minister Fumio Kishida as he pays a courtesy call to Kishida at the latter's official residence in Tokyo, Japan, 24 April 2023. KIMIMASA MAYAMA/Pool via REUTERSTOKYO, April 24 (Reuters) - Potential U.S. presidential candidate Ron DeSantis on Monday met with Japanese Prime Minister Fumio Kishida and lauded bilateral ties, especially the idea of a "strong Japan". "We really appreciate what a great ally Japan has been to the U.S. for many, many decades," DeSantis told Kishida at the start of their meeting at the prime minister's office in Tokyo. We understand it's a tough neighbourhood out here ... and we really believe that a strong Japan is good for America, and a strong America is good for Japan," he said. DeSantis, who is set to meet with Japanese Foreign Minister Yoshimasa Hayashi later on Monday, will head to South Korea, Israel and Britain after leaving Japan.

But Ueda said the Bank of Japan (BOJ) must also avoid being too late in normalising monetary policy, a sign he will be more open to the idea of tweaking its controversial bond yield control policy than his dovish predecessor Haruhiko Kuroda. "If the BOJ suddenly realises that inflation will stably and sustainably hit 2% and decides to normalise monetary policy, it will have to make very big policy adjustments," Ueda said in an inaugural news conference on Monday. The dollar extended its gains against the yen to hit 133.055 , the highest since April 4, on receding expectations of a near-term tweak to Japan's ultra-loose monetary policy. PRICE TRENDS HOLD KEYIf the BOJ sees that it can achieve its price target, it might need to normalise monetary policy, Ueda said. But the BOJ must sustain Kuroda's stimulus programme for the time being, including YCC, remarks that diminish the chance of a policy shift at this month's policy meeting.

[1/3] New Governor of Bank of Japan Kazuo Ueda waits for Japanese Prime Minister Fumio Kishida before their meeting at prime minister?s official residence in Tokyo, Japan, April 10, 2023. "Given high economic uncertainty, the BOJ will communicate closely with the government and guide monetary policy flexibly," Ueda told reporters after meeting with Prime Minister Fumio Kishida to receive his official appointment letter. In parliamentary confirmation hearings in February, Ueda has stressed the need to keep ultra-easy policy to ensure Japan sustainably achieves the BOJ's 2% inflation target backed by wage growth. Ueda will chair his first policy meeting on April 27-28, when the board produces fresh quarterly growth and price forecasts extending through fiscal 2025. Ueda served as BOJ board member from 1998 to 2005, during which the central bank introduced zero interest rates and then quantitative easing to combat deflation and economic stagnation.

☆ Japan, Philippines pledge closer security ties amid China tensions
▼ + stars: | 2023-02-09 | by ( Sakura Murakami | ) www.reuters.com time to read: +2 min

[1/6] Philippine President Ferdinand Marcos Jr. (3-L) and Japanese Prime Minister Fumio Kishida (2-R) talk at prime minister?s official residence in Tokyo, Japan, 09 February 2023. KIMIMASA MAYAMA/Pool via REUTERSTOKYO, Feb 9 (Reuters) - Japan said it was looking to strengthen joint military exercises with the Philippines as the two U.S. allies on Thursday pledged to forge closer security ties at a time of heightened tensions with China. Japan held joint military exercises with the United States and the Philippines as recently as October. The disaster relief deal with Tokyo is seen as a possible precursor to establishing a visiting forces agreement that would allow Japanese forces to deploy to the Philippines more easily. A Japanese military presence in the Philippines could help Manila counter Chinese influence in the South China Sea, much of which Beijing claims, including the territory that Manila considers its own.

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