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☆ As forex markets await political shocks, one tipping point could lead to a 'catastrophic trade' that unwinds markets
▼ + stars: | 2024-10-05 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

The yen carry trade unwind in August led to a temporary market pullback and recovery. AdvertisementThe foreign exchange market has been eerily quiet since the yen carry trade unwind. Much of the moves from the yen carry unwinding witnessed in August happened at this layer, Barrett said. But what we've seen in the yen carry trade is only the beginning, Barrett said. "Now, you may not think that's a yen carry trade, but it's absolutely the purest yen carry trade because all of that pension fund money started off as yen," Barrett said.

Persons: —, David Barrett, allocators, unwinding, Barrett, It's, it's, Harris, David, Trump Organizations: Service, EBC Financial, Bank of, Bloomberg, Big Tech, Nvidia Locations: Bank of Japan, Japan

☆ Nomura: Japan economy still doing well, foresee BoJ December rate hike
▼ + stars: | 2024-10-03 | 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 EmailNomura: Japan economy still doing well, foresee BoJ December rate hikeYujiro Goto of Nomura expects the dollar-yen cross to trade between 140 and 145 as concerns over new Japanese Prime Minister Shigeru Ishiba's policies dissipates. Japanese businesses remain resilient, paving the way for a potential rate hike by the Bank of Japan in December 2024.

Persons: Goto, Nomura, Shigeru Organizations: Email Nomura, Bank of Japan Locations: Japan

☆ Comgest: 'no real need' for Bank of Japan to adjust monetary policy
▼ + stars: | 2024-10-03 | 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 EmailComgest: 'no real need' for Bank of Japan to adjust monetary policyRichard Kaye of Comgest believes that monetary policy from the Bank of Japan will remain accommodative since inflation remains well controlled. He maintains that the strength of Japan's economy lies in its small companies, and hopes for potential reforms to ease succession planning in these companies.

Persons: Richard Kaye, Comgest Organizations: Bank of Japan, Bank of Locations: Bank of Japan

☆ Japan's next prime minister is a career dissenter, but experts doubt he can govern as one
▼ + stars: | 2024-10-01 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Shigeru Ishiba, the man set to become the next leader of Japan, has made a career as a political outsider and opponent of party orthodoxy. However, some experts doubt that the former defense minister will manage to govern as such. The election ultimately came down to a runoff in which Ishiba defeated economic security minister Sanae Takaichi, who presented herself as the more Abenomics-aligned candidate. Japan's parliament is expected to formally vote Ishiba into the role Tuesday. He also reportedly suggested he would follow Prime Minister Fumio Kishida's approach of trying to pull Japan out of years of deflationary pressures.

Persons: Shigeru Ishiba, Shinzo Abe, Abe, Tobias Harris, Ishiba, Sanae Takaichi, he's, Sayuri Shirai, Takaichi, there's, Fumio, Shirai Organizations: Liberal Democratic Party, Bank of, LDP, Japan Foresight, Keio University Locations: Tokyo, Japan, Abenomics

☆ Asia-Pacific markets mixed after Powell signals smaller rate cuts; China markets closed for holiday
▼ + stars: | 2024-10-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the U.S. central bank should not be interpreted as a sign that future moves will be as aggressive. "If the economy performs as expected, that would mean two more rate cuts this year, a total of 50 [basis points] more." The current federal funds rate stands at 4.75%-5%, with the expected additional 50 basis points in cuts set to take the Fed's benchmark interest rate to 4.25%-4.5% at the end of 2024. In Asia, traders will focus on the Bank of Japan's third quarter Tankan survey, which measures the level of business optimism among large Japanese companies. As such, the member said, "the Bank will not raise its policy interest rate when financial and capital markets are unstable."

Persons: Jerome Powell, Morgan Stanley, Ellen Zentner Organizations: Federal, U.S, Bank of, U.S . Federal Reserve, Liberal Democratic Party, Bank, Reuters Locations: Asia, Pacific, Japan

☆ Here’s why Japan’s stocks are plunging after Shigeru Ishiba’s win
▼ + stars: | 2024-09-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Japan's August retail sales climbed 2.8% year on year, beating Reuters poll estimates of a 2.3% rise, and up from a revised 2.7% rise in July. Ishida had beaten Economic Security Minister Sanae Takaichi in the final round of the Liberal Democratic Party election on Friday, sending the yen into a volatile session. A higher interest rate typically strengthens the yen and puts pressure on Japanese stock markets, which are heavily weighted by exporters. Chinese rally puts pressureThe Nikkei's decline on Monday also comes at a time when China's markets have been surging. Stock Chart Icon Stock chart icon

Persons: Shigeru Ishiba, Ishida, Sanae Takaichi, Ryota Abe, Takaichi, Ishiba, Abe, Steven Glass, CNBC's Organizations: Economic, Liberal Democratic Party, Bank of Japan, Sumitomo Mitsui Banking Corporation, CNBC, Bank of, Pella Funds Management, CSI Locations: Tokyo, Japan, Pella, Hong

☆ Yen steadies, dollar slips as China reaches for stimulus
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen banknotes and U.S. one-hundred dollar banknotes are arranged for a photograph in Tokyo, Japan. The yen slipped about 0.4% to 142.75 per dollar after jumping 1.8% on Friday. European inflation data on Tuesday and Chinese data due later on Monday are also keenly awaited. The New Zealand dollar was up 0.3% at $0.6360 after hitting its highest since December on Friday. "The trend over next year or so is for the dollar to go down," said Commonwealth Bank of Australia strategist Joe Capurso.

Persons: Shigeru Ishiba, Ishiba, Ray Attrill, Joe Capurso Organizations: Liberal Democratic Party, NHK, Bank of Japan, National, New, New Zealand, U.S, U.S . Federal, Commonwealth Bank of Australia Locations: Tokyo, Japan, National Australia, China, U.S .

☆ CNBC Daily Open: More all-time highs? Yes please
▼ + stars: | 2024-09-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Why are Treasury yields rising? Treasury yields tend to move in tandem with interest rates. When the U.S. Federal Reserve cut interest rates last week, it's not unreasonable to expect Treasury yields to dip.

Persons: Hong, it's, they've, Jeff Cox, Sam Altman, Bret Taylor, Sarah Friar, OpenAI's, Ishiba, Shigeru Ishiba, Sanae Takaichi Organizations: CNBC, Major, CSI, Treasury, U.S . Federal Reserve, Altman, PM, Liberal Democratic, Bank of, People's Bank of China, Barclays Locations: Major U.S, Asia, Pacific

☆ Time for Japan political leaders to have 'new thinking' about economy
▼ + stars: | 2024-09-27 | 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 EmailIt's time for Japan's political leaders to have 'new thinking' about the country's economySayuri Shirai of Keio University and a former board member at the Bank of Japan says that Japan's next prime minister has to do "much more" about the country's environmental and climate policies.

Persons: Sayuri Shirai, Japan's Organizations: Keio University, Bank of Japan

☆ European stocks set for positive open, spurred on by gains in Asia-Pacific markets
▼ + stars: | 2024-09-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

City of London skyline on 10th June 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. LONDON — European stocks are expected to open in positive territory Thursday, spurred on by gains in Asia-Pacific markets overnight. The positive start to the trading day anticipated in Europe comes after Asia-Pacific markets rose overnight, with markets in the region led by Japan's Nikkei 225 and Chinese markets extending gains. Japan's Nikkei climbed 2.12%, while the broad based Topix was up 1.65%, as the Bank of Japan released minutes of its July meeting.

Persons: Germany's DAX Organizations: LONDON, CAC, IG, Japan's Nikkei, Bank of Japan, China's CSI Locations: London, United Kingdom, The City, Asia, Pacific, Europe

☆ LDP election: Japan’s next prime minister could be its first woman leader
▼ + stars: | 2024-09-26 | by ( Helen Regan | ) edition.cnn.com time to read: +6 min

CNN —Japan’s ruling party will elect its new leader Friday, and the winner will become the country’s next prime minister. Prime Minister Fumio Kishida is not in the running after his surprise announcement last month that he would step down following a series of political scandals that fueled calls for him to resign. With the upcoming US presidential election, the new prime minister will navigate Japan’s relations with a new American leader at a time of growing security challenges in Asia, including an increasingly assertive China and a belligerent North Korea. Koizumi, 43, is the US-educated, charismatic son of popular former prime minister Junichiro Koizumi, and could be Japan’s youngest prime minister of the post-war period. He sits on the more progressive wing of the conservative party.

Persons: CNN —, Shinjiro Koizumi, Shigeru Ishiba, Fumio Kishida, haven’t, Kishida, “, Koizumi, ” Yu Uchiyama, Margaret Thatcher, Shinzo Abe, –, Junichiro Koizumi, acceding, Ishiba Organizations: CNN, Liberal Democratic Party, LDP, Partnership, Tokyo University, Reuters, Bank of, NATO Locations: Japan, China, Japan’s, American, Asia, North Korea, Pacific, South Korea, Bank of Japan

☆ Dollar firm following sharp rebound as Fed speakers eyed
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +4 min

Earlier this week, Chicago Fed President Austan Goolsbee said policymakers "can't be behind the curve" if the economy is to have a soft landing. Atlanta Fed President Raphael Bostic said the central bank needn't go on a "mad dash" to lower rates. Later Thursday, Fed Chair Jerome Powell gives pre-recorded remarks at a conference in New York, where New York Fed President John Williams also speaks. Boston Fed President Susan Collins and Fed Governors Michelle Bowman and Lisa Cook take to the podium at various other venues as well. Minutes from the Bank of Japan's July meeting, when the central bank raised short-term interest rates, showed policymakers were divided on how quickly the central bank should raise interest rates further.

Persons: Adriana Kugler, Austan Goolsbee, Raphael Bostic, I'm, it's, Kenneth Crompton, Jerome Powell, John Williams, Susan Collins, Michelle Bowman, Lisa Cook, NAB's Crompton, Sterling, bitcoin Organizations: Reserve, Fed, Chicago Fed, Atlanta Fed, National Australia Bank, New York Fed, Boston, Weekly U.S, Traders, Bank of Japan's, Swiss Locations: New York

☆ LDP election might affect Yen, not small and mid-cap Japanese stocks
▼ + stars: | 2024-09-25 | 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 EmailLDP election unlikely to affect small-cap Japanese stocks, but it might affect the Yen: AmundiHiromi Ishihara of Amundi Japan discusses how the Japanese Liberal Democratic Party presidential election might affect the Japanese markets, future interest rate policy by the Bank of Japan, and her year-end target for the Yen.

Persons: Amundi Hiromi Ishihara Organizations: Amundi, Japanese Liberal Democratic, Bank of Japan Locations: Amundi Japan

☆ A Takaichi win would have big implications on BOJ policy: Strategist
▼ + stars: | 2024-09-23 | 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's LDP election: Takaichi win would have 'biggest implications' on BOJ policy, strategist saysMitul Kotecha, Barclays' head of FX and emerging markets macro strategy in Asia, says there would be pressure on the Bank of Japan to hike rates "less aggressively than would've been anticipated" or even a "delay in a January move."

Persons: Takaichi, Mitul Kotecha, would've Organizations: Barclays, Bank of Japan Locations: Asia

☆ Bitcoin jumps while Japan holiday dulls most currencies
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +4 min

The Bank of Japan left interest rates unchanged last week and indicated it was not in a hurry to hike them again. That decision, coming just days after the Fed's 50 basis points rate cut, put a pause to the yen's sharp gains this month. With Japan closed for Autumnal Equinox Day, the main driver of trade was expectations around further Fed rate cuts and the gains those have spurred in equities, commodity currencies and other risk assets. The Fed's rate cut "appears to have calmed market fears of a U.S. recession", Goldman Sachs said in a note. Meanwhile, the majority of economists polled by Reuters anticipate two more 25 bps rate cuts at the Fed's final two meetings this year.

Persons: Bitcoin, Goldman Sachs, Christopher Waller, Fumio Kishida, Takaichi —, —, Shigeru Ishiba, Shinjiro Koizumi, Junichiro Koizumi, Takaichi, pare Organizations: Federal, Bank of Japan, Japan, U.S, U.S ., FedWatch, Treasury, Reuters, House Republicans, Liberal Democratic Party, Barclays, The Bank of Locations: United States, Japan, U.S, The Bank of England

☆ Japan top currency diplomat says watching for any build-up of yen carry trades: report
▼ + stars: | 2024-09-21 | by ( ) www.cnbc.com time to read: +1 min

Sheets of newly-designed Japanese 10,000 yen banknotes move through a machine at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 19, 2024. Persistent weakness in the yen is raising concerns about the potential for a resurgence in cost-push inflation, likely weighing on private consumption. Japan's top currency diplomat Atsushi Mimura said authorities are "always watching markets" as a renewed build-up of yen carry trades could heighten market volatility, public broadcaster NHK quoted him as saying in an interview that ran on Friday. Mimura said yen carry trades built up in the past are likely to have been mostly unwound, according to NHK. We are always watching markets to ensure that does not happen," Mimura was quoted as saying.

Persons: Atsushi Mimura, Mimura, Masato Kanda, Yen Organizations: National Printing Bureau, NHK, Bank of Japan Locations: National Printing Bureau Tokyo, Tokyo, Japan

☆ Bank of Japan to 'hibernate' until political dust settles, says strategist
▼ + stars: | 2024-09-20 | 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 EmailBank of Japan to 'hibernate' until political dust settles, says strategistMasahiko Loo of State Street Global Advisors gives his take on how Japanese politics and the Fed's surprise 50 basis point rate cut affects the Bank of Japan's next move.

Persons: Masahiko Loo Organizations: Email Bank of Japan, Street Global Advisors, Bank of Japan's

☆ Yen nurses losses as BOJ meets, dollar dogged by rate outlook
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen, left, and US 100 dollar banknotes arranged for a photograph in Tokyo, Japan, on Friday, May 10, 2024. It has been a tough week for the yen, with the euro gaining 2.2% to 159.46 as speculators booked profit on recent long yen positions. The dollar was up 1.4% for the week at 142.84 yen , though off an overnight high of 143.95. "As such, there is scope to further raise the policy rate while keeping financial conditions accommodative," she said. "The recent financial market ructions and the upcoming Liberal Democratic Party election may make the BOJ more cautious about raising."

Persons: Samara Hammoud, Kazuo Ueda, Sterling Organizations: Bank of, U.S ., CBA, 25bp, Liberal Democratic Party, U.S Locations: Tokyo, Japan, Bank of Japan, Samara, China, U.S . Federal, Bank of England

☆ Capitalize on current value to maximize carry profits: PineBridge
▼ + stars: | 2024-09-20 | 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 EmailCapitalize on current value to maximize carry profits: PineBridgeTadashi Matsukawa of PineBridge Investments expects the Bank of Japan to hold steady for the rest of the year, and explains how he's investing in fixed income in light of that expectation.

Persons: PineBridge Tadashi Matsukawa Organizations: PineBridge Investments, Bank of Japan

☆ Bank of Japan keeps key interest rate steady as it treads cautiously on normalizing policy
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

The Japanese flag flutters over the Bank of Japan (BoJ) head office building (bottom) in Tokyo on April 27, 2022. The Bank of Japan kept its benchmark interest rate steady at "around 0.25%" — the highest rate since 2008 — at the conclusion of a two-day meeting Friday. Japan's economy has recovered moderately, the central bank said in its official statement, while acknowledging "some weakness has been seen in part." BOJ Governor Kazuo Ueda said last month that the central bank would continue to raise interest rates if the economy and inflation stayed in line with the central bank's projection. On Thursday, The U.S. Federal Reserve cut interest rates by 50 basis points to a range of 4.75% to 5.0%.

Persons: BOJ, Kazuo Ueda Organizations: Bank of Japan, The Bank of Japan, Nikkei, U.S . Federal Reserve Locations: Tokyo

☆ CNBC Daily Open: Markets have finally processed the good news
▼ + stars: | 2024-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] Commodity price movements Stocks have rallied on the back of the Fed's rate cut. The S&P climbed 1.7% to end at 5,713.64, the first time the broad-based index has broken through the 5,700 ceiling. At the end of Washington's song, she croons, "What a difference a day makes / And the difference is you."

Persons: Stocks, it's, Jerome Powell's, Jeff Cox, Dinah Washington, Oppenheimer, Brian Belski, Powell, –, Alex Harring, Fred Imbert, Hakyung Kim, Lisa Kailai Han Organizations: Nasdaq, CNBC, Citi, HSBC, People's Bank of, Bank of, Fed, Dow, Nvidia, Apple, BMO Locations: New York, China, Japan, Asia, People's Bank of China, Bank of Japan, Dinah Washington . Washington

☆ BOJ likely to hike rates in January, economist says
▼ + stars: | 2024-09-20 | 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 EmailBOJ likely to hike rates in January, economist saysKazuo Momma, executive economist at Mizuho Research & Technologies, explains why the Bank of Japan has "no reason" to "rush" into a rate-hiking cycle and will likely be "patient" until January.

Persons: Kazuo Momma Organizations: Mizuho Research & Technologies, Bank of Japan

☆ Appreciation of the yen could slow the pace of BOJ rate hike, economist says
▼ + stars: | 2024-09-20 | 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 EmailAppreciation of the yen could slow the pace of BOJ rate hike, economist saysTakahide Kiuchi, executive economist at Nomura Research Institute, expects that the Bank of Japan will hike rates in January 2025.

Persons: Takahide Kiuchi Organizations: Nomura Research Institute, Bank of Locations: Bank of Japan

☆ Treasury yields move lower as investors digest unemployment data after Fed cut
▼ + stars: | 2024-09-20 | by ( April Roach | ) www.cnbc.com time to read: +1 min

The 10-year Treasury yield was around 2 basis points lower at 3.7168%. The 2-year Treasury note yield was down around 2 basis points at 3.5784%. U.S. Treasury bond yields were lower on Friday following the release of lower-than-expected jobless claims in the wake of the Federal Reserve's jumbo rate cut. The Federal Reserve's decision on Wednesday to slash interest rates by 50 basis points comes amid a week full of central bank rate decisions. The Bank of England announced on Thursday it would hold interest rates steady after cutting rates for the first time in more than four years in August.

Persons: BOE Organizations: U.S, Treasury, Federal, Reuters, Bank of England, Bank of Japan, People's Bank of China Locations: Asia, China

☆ Bitcoin and crypto stocks rise after the Fed cuts rates by half a percentage point
▼ + stars: | 2024-09-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The price of bitcoin was recently higher by 3.5% at $62,417.48, according to Coin Metrics, building on a rally underway before the central bank decision Wednesday. Stocks tied to the price of bitcoin climbed in early trading Thursday. MicroStrategy , widely used as a high beta play on the price of bitcoin, gained 5%. It isn't out of the woods yet, however, said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank. "Bitcoin has some time until the BOJ makes the decision and could extend its gain during Thursday's U.S. session.

Persons: bitcoin, Stocks, Yuya Hasegawa, Bitcoin Organizations: Metrics, Federal Reserve, Nasdaq, Bank of, Thursday's U.S

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