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JGBs: BoJ provides the ultimate backstop

Recent days have seen a big sell off in the JGB market. The 10Y yield has leapt from 60bps last Thursday to 86bps today. The 5Y yield, meanwhile, has risen from 23bps to over 40bps over the same period. It is certainly one of the sharpest sell offs in the...

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Japan: Is the virtuous cycle within reach?

What a difference a change of leadership has made. Since Japan’s general election was called six months ago, presaging Abenomics and the BoJ’s unprecedented monetary easing, the country’s equity markets have wiped the...

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Corporate Japan: Far from a curse

Writing in yesterday’s Financial Times, Martin Wolf argued that without structural reform to the corporate sector, the BoJ’s efforts to reflate the economy are doomed to fail, either as a result of any recovery eventually petering out, or through a shift to ultra-high inflation...

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Wow, Kuroda!

So, after weeks of waiting, and with expectations high, new BoJ Governor Haruhiko Kuroda finally got the chance to put his stamp on Japanese monetary policymaking...

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The Bank of Japan: Counting on Kuroda

Earlier today saw the final Bank of Japan Policy Board meeting chaired by Governor Shirakawa. As expected, no changes were made to policy, a suitably inconsequential end to a term that saw GDP growth and inflation both average less than zero....

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