Post Tagged with: "Japan"
Confessions of an Investor
By Niels Jensen The Absolute Return Letter, April 2011 “When models turn on, brains turn off.” Til Schulman I have been thinking a great deal about risk over the past couple of years. The depth of the financial crisis took many of us by surprise. I made mistakes. I am sure you made mistakes. In
Global Manufacturing Slips Back Slightly In March
By Edward Hugh Evidence which would enable us to assess the full economic impact of the Japanese earthquake and tsunami is still hard to come by. There is a lot of talk of supply chain disruptions, but little in the way of detailed evidence to back up assertions of the more anecdotal kind. Even the
Punishing Savers and Theft Amongst the Elderly
You normally don’t see these two phrases in a single headline, but they are very much connecting. I thought of this this morning when I read a post called Retirement in the Liquidity Trap by Tim Duy. Commenting on a Wall Street Journal article about how U.S. retirees were suffering as a result of low
Pushing The Reset Button In Japan?
By Claus Vistesen The past week has shown the dark side of media coverage and the analysis of current events. It is a test on just how much information you stuff down the public’s throat. In the narrowness of my own world, the financial industry has a tendency to produce an extra amount of hyperbole
Risk Appetite Rallies; Intervention Allows Yen Consolidation
BBH CurrencyView US dollar weaker as risk appetite rallies worldwide: yen and swiss the exceptions Coordinated G7 intervention Friday allows yen to consolidate Euro remains strong on hawkish comments and this week’s upcoming summit The dollar is mostly weaker except against the yen and swiss, as risk appetite increases during the Asian session and the
Surely There Is Nothing “Funny” About What Is Going On In Japan?
By Edward Hugh As Japanese officials continue to toil away in what we all hope will be a successful bid to avert a worst case nuclear meltdown, even while thousands of Japanese remain missing and unaccounted for, financial market participants across the globe have been struggling to answer one and the same question: just how
Coordinated Intervention Stokes Risk Appetite
The dollar is mostly weaker except against the yen and Swiss as risk appetite has increased today. The talk regarding the nuclear situation in Japan leads to hopes of stabilizing the situation, and G7 leaders agree to intervene to weaken the yen. The yen is about 3% weaker against the dollar at 81.40 and the Swiss is down 0.5% as risk-aversion trades get squared off. More broadly, the dollar is weaker against most other major and emerging market currencies, falling around 0.5% against European currencies and over 1.0% against the Australian and New Zealand dollars. EUR/USD has firmly broken above the key 1.40 level, currently trading around 1.4100. Sterling is underperforming, following weak data and BOE member comments. CAD is stronger on the day, little changed by lower than expected CPI data this morning. Global equity markets and futures prices are higher led by a 2.5% increase in the Nikkei. European indices are up between 0.5 and 1% while S&P futures are pointing to a 0.7% higher open. Global sovereign debt yields are somewhat lower. Oil prices are up 1%
Thoughts on G-7 Statement on ‘Concerted Intervention’ to Sell Japanese Yen
By Warren Mosler In the context of this ‘everyone’s out of paradigm’ world, it makes sense for Japan’s MOF (Ministry of Finance) to buy dollars vs yen. But it makes no sense to do this as a coordinated effort with other nations also buying dollars vs yen. It does make sense for the MOF to
Yen: Speculation, Repatriation and More
By Marc Chandler There seems to be a general consensus among observers that contrary to the talk of repatriation that the yen’s rise is largely speculative in nature. This is very much in line with our assessment from the get-go. Subsequently, data strengthened out conviction. At the same time, there are a couple of other
Useful links on Japan, nuclear energy and radiation
Here are some links that seem useful in the context of the Japanese Fukushima Daiichi 1 nuclear power plant situation. I also have a picture about radiation levels in Japanese below. The Haaretz link is related because it shows that some might use this situation to conduct other nuclear activities ‘under the radar’ as the
Uncertainty Drives Yen and Swiss Franc Higher
BBH CurrencyView North American Update US dollar mostly weaker versus majors USD/JPY reaches record low as uncertainty remains elevated; G7 to discuss Swiss franc stronger on safe haven bids; SNB remains on hold The dollar declined against most currencies today. The yen is 1.5% stronger trading around the 78.50 level after a very volatile session,
BOJ Intervention In Currency Market Likely
The Japanese Yen reached a new all-time high against the U.S. dollar fuelling speculation that the Bank of Japan will forced to intercede to ward off speculators. With the prospect of repatriation of profits back to Yen, the currency has risen to 79.75 to the USD even as equity markets have plummeted. This is well