Topic
Japan
Everything Briefed has filed against Japan, most recent first.
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Japan's producer prices stay hot as BOJ weighs its next moveWholesale inflation in Japan is holding stubbornly high, complicating the Bank of Japan's case for a slow, gradual path on rates. Producer prices feed through to consumer inflation with a lag, so p…BNY Mellon's new yen gauge is a curry, not a burgerBNY Mellon strategist Geoff Yu has built a Katsu Curry Index to track yen weakness, arguing a Japanese pork-and-rice staple reflects domestic purchasing power better than The Economist's Big Mac, a…The yen intervention rally is already half goneJapan and the US ran their first joint yen-buying operation since 1998 last week, hauling the currency from a 40-year low near 164 per dollar to about 155.20. It's now back to roughly 158.4, having…Japan wants growth to do what intervention couldn'tBetting on GDP growth to fix the yen is a longer, riskier play than currency intervention, and Tokyo knows it. The argument coming out of Japan's leadership is that sustained economic growth, not c…LGT's Japan push chases wealth Switzerland can't reachLiechtenstein's LGT expanding private banking in Japan is a bet that Japanese wealth creation, driven by a weak yen boosting export earnings and a stock market at multi-decade highs, has outgrown t…Tokyo and Washington confirm the intervention everyone already priced inCentral banks rarely admit to currency intervention while it's happening, so Japan and the US confirming a joint operation to prop up the yen is the unusual part, not the intervention itself. The y…Investors are losing patience with the Bank of JapanJapan's inflation has run hot enough for long enough that the BoJ's gradualist approach is starting to look like indecision rather than caution. Investors are now openly questioning whether Governo…The chip rally is cracking under its own financing structureJapanese and Korean chip stocks fell hard this week as investors started pricing two problems at once: circular financing between AI infrastructure players propping up demand that may not be real, …Yen crashes through 163, and the Bank of Japan is running out of excusesA four-decade low against the dollar means the yen has now erased more value than at any point since 1986, and Tokyo's verbal intervention playbook is visibly failing to hold the line. The move pas…Japanese bonds are earning the nickname that once bankrupted tradersThe widow-maker trade got its name in the 1990s and 2000s from investors who repeatedly shorted Japanese government bonds expecting yields to rise, only to be wiped out as the Bank of Japan kept bu…Japan's bullet trains are about to get faster, againJapan's next-generation maglev and shinkansen upgrades are targeting speeds past 360 km/h under a national moonshot programme, aiming to cut Tokyo-Osaka travel time further and keep JR Central's Ch…A $76 billion JGB flood is coming if Japan's pension giant rebalancesJapan's Government Pension Investment Fund is the largest pool of retirement capital on earth, and even a routine rebalancing from it moves global bond markets. SocGen estimates GPIF could buy up t…Japan's 30-year bond yield just hit a three-decade high. The global rate reckoning has a new front.Japan's long-end yields are doing something they haven't done since the mid-1990s, and the mechanism matters more than the headline number. The Bank of Japan's gradual exit from yield curve control…Hormuz disruption is rewriting Asia's energy mix in real timeJapan is switching gas capacity to coal because LNG cannot get through a choked Strait of Hormuz, and that single operational decision tells you more about energy security than a year of policy pap…Japan's convertible bond comeback is a direct consequence of the Bank of Japan's rate normalisationConvertible bonds are back in favour in Japan as rates continue to rise, and the logic is not complicated: as fixed-income yields climb, the equity-upside optionality embedded in convertibles looks…The yen at a four-decade low is a carry trade with a known endingThe yen has hit its weakest level against the dollar in roughly forty years, a direct consequence of the Bank of Japan's continued hesitation to raise rates meaningfully despite inflation running a…BlueBay flags near-term downside in Japanese AI stocks before a potential rally. That sequencing matters.BlueBay Asset Management's view on Japanese AI equities is usefully specific: near-term risk first, then rally. The near-term risk is valuation compression as the global AI trade digests the BIS wa…Japan's government wants corporates to invest for growth. Investors should be sceptical about what that means in practice.Japan's corporate governance story is at risk of a policy-induced detour. The Tokyo Stock Exchange has spent two years pushing companies trading below book value to improve capital efficiency throu…Apollo hunts Japanese life insurer for $5.8tn market accessThe private equity giant is actively seeking to acquire or partner with a Japanese life insurer to tap the country's ¥900 trillion in life insurance reserves. Apollo already has eight reinsurance d…Corporate Japan borrows again as deals pressure ratingsJapanese companies are abandoning their decades-long deleveraging mindset to fund aggressive M&A and higher shareholder returns, spooking credit rating agencies. The shift marks a reversal from the…Japan warns it can act on currency volatilityFinance Minister Satsuki Katayama reiterated Japan's readiness to intervene if there's excessive FX volatility or speculative moves, as USD/JPY trades near intervention-sensitive levels. Her commen…Japanese retail traders double Tokyo volumes chasing AI feverJapanese day traders have pushed Tokyo Stock Exchange volumes to ¥4-4.5 trillion daily, nearly doubling last year's ¥2-2.5 trillion as AI mania grips retail investors. The surge bypasses traditiona…Japan's plastic addiction creates supply risk as Iran tensions mountJapan generates 129kg of plastic waste per person annually, heavily dependent on petrochemical feedstocks from the Gulf that transit the Strait of Hormuz. Tokyo Bay anchovies show 80% plastic parti…Morgan Stanley Japan CEO wants yen at 140Alberto Tamura told Bloomberg he's 'hoping that the yen strengthens to around 140' per dollar, but only if the Bank of Japan acts. Morgan Stanley's FX research shows USD/JPY trading above fair valu…Oasis doubles down on Japan activismSeth Fischer's Oasis Management is running activist campaigns across Kao, DIC Corp, Kokuyo, and Nissan as Japan's corporate governance reforms create clearer catalysts for value unlock. Fischer tol…Japan's Takaichi pushes constitutional revision amid regional security tensionsPrime Minister Sanae Takaichi established a panel to review security policies and advance Article 9 discussions, building on the LDP's February landslide that secured a two-thirds lower house major…KKR targets Japan's $2.8tn corporate property selloffKKR's Japan unit is gearing up for a massive property acquisition spree, targeting companies divesting non-core assets in a market worth ¥450 trillion ($2.8 trillion) as activist pressure mounts on…