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☆ Japan faces labor shortages and demographic crisis as elderly population hits record high
▼ + stars: | 2024-09-18 | by ( Dylan Butts | Cnbc Brand Studio | ) www.cnbc.com time to read: +1 min

Japan commemorated its "Respect for the Aged Day" earlier this week, with the national holiday underscoring a somewhat problematic fact — the country has a record number of elderly citizens to celebrate. Government data released ahead of the event showed that Japan's population of people aged 65 and over had risen to an all-time high of 36.25 million. A survey from Teikoku Databank last month showed that 51% of companies across sectors in Japan feel there is a shortage of full-time employees. Meanwhile, 2023 saw the number of Japan's workers aged 65 and over rise for a 20th consecutive year to reach a record 9.14 million, Statistics Bureau data showed. Feldman warned that as these elderly workers begin to retire from the workforce, there won't be the same number of young workers stepping up to replace them.

Persons: Robert Feldman, Morgan, Databank, Feldman Organizations: Statistics Bureau, Ministry of Internal Affairs and Communications, Morgan Stanley, Securities Locations: Japan

☆ Dollar steadies, yen pinned near 152
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: +4 min

The dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level. The dollar was on the front foot on Wednesday, pinning the yen near its lowest in decades though the heightened threat of currency intervention by Tokyo capped further declines in the Japanese currency. The yen was last at 151.585 per dollar, languishing near last month's slump to 34-year lows of 151.975 in the wake of the Bank of Japan's historic policy shift. The dollar , which on Tuesday touched a nearly five-month high of 105.10 against a basket of currencies, was last steady at 104.76. "I think the dollar will hold up pretty well in the near term, and that will be a headwind for the other major currencies."

Persons: Morgan Stanley, Koichi Sugisaki, Sterling, Carol Kong, CBA's Organizations: Federal Reserve, Bank of, Ministry of Finance, U.S ., U.S, Commonwealth Bank of Australia, Traders, Fed, New Locations: Tokyo, Japan, U.S, CBA's Kong, New Zealand

☆ Japan is facing 'major, major' demographic issues, says Morgan Stanley economist
▼ + stars: | 2024-03-04 | 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 EmailJapan is facing 'major, major' demographic issues, says Morgan Stanley economistRobert Feldman, chief economist at Morgan Stanley MUFG Securities, says Japan's social and medical policies will be "critical" in addressing the issue.

Persons: Morgan Stanley, Robert Feldman, Morgan Organizations: Japan, Morgan Stanley, Securities

☆ Japan's labor market shortage has gotten 'extraordinarily serious,' says Morgan Stanley economist
▼ + stars: | 2023-10-31 | 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 EmailJapan's labor market shortage has gotten 'extraordinarily serious,' says Morgan Stanley economistRobert Feldman, chief economist of Morgan Stanley MUFG Securities, discusses Bank of Japan policy and the challenges the country's labor market faces.

Persons: Morgan Stanley, Robert Feldman Organizations: Securities, Bank, Japan

☆ UBS just reshuffled its leadership ranks after buying Credit Suisse. See the new power players in charge of the $1.7 trillion Swiss banking behemoth.
▼ + stars: | 2023-06-12 | by ( Michelle Abrego | Kaja Whitehouse | ) www.businessinsider.com time to read: +11 min

The merger between Credit Suisse and UBS creates a new Swiss banking behemoth with $1.7 trillion in assets. Investment bank leadersThe president of UBS's investment bank, Robert Karofsky, circulated a memo on Monday announcing his new leadership team. Ebert, co-head of markets at Credit Suisse, was also named head of Credit Suisse for the Investment Bank, reporting to Karofsky. UBS global wealth management president Iqbal Khan revealed the appointments to its critical wealth business in an internal memo titled "Becoming a global wealth powerhouse." Members of the current Credit Suisse wealth management leadership team will report to both Yves-Alain and to their respective UBS global wealth management regional leader.

Persons: Yves, Alain Sommerhalder, Michael Ebert, Robert Karofsky, Ebert, Karofsky, Marco Valla, Valla, Javier Oficialdegui, Mike, I've, George Athanasopoulos, Jason Barron, Ros L'Esperance, Dan Dowd, Taichi Takahashi, Chris Leone, Julie Beavan, Tricia Hazelwood, Jeff Hinton, Kurt Anthony, Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer, Ken Tittle, Iqbal Khan, Francesco De Ferrari, Khan, Reuters Yves, Alain, Wiwi Gutmannsbauer, Benjamin Cavalli, Cavalli, Kinner, Amy Lo, Jin Yee Young, Young, Hatecke, UBS's Anton Simonet, Christl, Jason Chandler, Sergio Ermotti, Ralph Hamers, Ermotti, MICHELE LIMINA, Todd Tuckner, Sarah Youngwood, Michelle Bereaux, Stefan Seiler, Christian Bluhm, Damian Vogel, Ulrich Körner Organizations: UBS, Credit Suisse, Suisse, Credit, Wall Street, Investment, Investment Bank, Barclays, Global Banking, Investment Bank Management, Global Markets, Global Research, IB, Resource Management, Staff, MUFG Securities, Reuters, Yves, Deutsche, Switzerland, Swiss Re, Getty Locations: Switzerland's, Swiss, Americas, Asia, Singapore, Switzerland, Europe, Middle East, Africa, America, AFP

☆ Dollar bonds of India's Adani Ports rise as company starts debt buyback
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, April 24 (Reuters) - The U.S. dollar-denominated bonds issued by India's Adani Ports and Special Economic Zone (APSE.NS) rose on Monday, after the company commenced a cash tender offer for a buyback of securities. On Monday, Adani Ports and Special Economic Zone (APSE.NS), part of the beleaguered Adani Group, said it has floated a tender of up to $130 million of 3.375% 2024 maturity dollar-denominated bonds. The company has engaged Barclays Bank, DBS Bank, Emirates NBD Bank PJSC, First Abu Dhabi Bank, PJSC, MUFG Securities Asia Singapore Branch, SMBC Nikko Securities (Hong Kong) and StandardChartered Bank to serve as dealer managers for the offer. The dollar bonds of Adani Transmission (ADAI.NS), Adani Green Energy (ADNA.NS) and Adani Electricity Mumbai were trading mixed. However, India's market regulator is looking into Hindenburg's allegations as well as the group's related party dealings following a Supreme Court directive.

☆ Dollar slides, CPI data suggests Fed could slow pace of rate hikes
▼ + stars: | 2022-11-10 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

"Inflation is clearly moving in the right direction, and that keeps a more hawkish Fed at bay," he said. The spike higher in the yen versus the dollar stirred speculation the Bank of Japan intervened, which analysts doubted. Fed funds futures priced in a drop in expectations for the U.S. central bank's peak target rate, which fell below 5%. The likelihood of a 50-basis-point rate hike by the Fed instead of a 75-basis-point increase in December rose to 71.5%. CPI rose 7.7% in October on a year-over-year basis, down from 8.2% in the prior month, as headline inflation fell below 8% for the first time since February.

☆ Treasury yields jump before Fed meeting, dollar gains
▼ + stars: | 2022-09-19 | by ( Herbert Lash | ) www.reuters.com time to read: +6 min

The higher yield helped strengthen the dollar and made gold less attractive as concerns about the economy in light of higher rates cooled risk taking. After the past three Fed meetings, there have been relief rallies in bonds and equities as markets interpreted Powell as being dovish. read moreThe two-year yield , a barometer of future inflation expectations, climbed to a fresh almost 15-year high of 3.970%. read moreThe dollar rose 0.21% against the yen , backing off from the 24-year peak of 144.99 two weeks ago amid increasingly strident intervention warnings from Japanese policymakers. The dollar index rose 0.055%, with the euro up 0.06% to $1.0021.

The higher rate helped strengthen the dollar and weaken gold prices as other central banks also are expected to hike rates this week. But a rally this time is unlikely when policymakers conclude a two-day meeting on Wednesday, he said. Markets also indicate a real chance that rates could hit 4.5% as the Fed is forced to tip the economy into a recession to subdue inflation. "Asset performance during this Fed tightening cycle is very different from the norm for other rate hike episodes," said David Chao, a global market strategist at Invesco. read moreChina's central bank went its own way though, and cut a repo rate by 10 basis points to support its ailing economy.

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