JAPAN

rffrydr · Posted: Fri Mar 03, 2006 12:25 am Post subject: JAPAN

Core rate up .5%; 3 in a row:

"Mitsubishi UFJ Securities senior strategist Naomi Hasegawa said remarks this morning by Prime Minister Junichi Koizumi fueled conjecture that the central bank will soon end its present policy.

'[Changes in] consumer prices are coming in above zero and we are seeing signs of getting out of deflation,' Koizumi told a parliamentary committee.

His comments were his most positive yet on recent indications that the economy is winning its battle with falling consumer prices. Previously, Koizumi had insisted that it was too soon to say that the economy was coming out of deflation."

Bonds and stocks were short going in. End-of-day showed resiliency, (complaceny?)

Hey Henry, Devil's advocate: with Japanese debt at a Godzilla-sized 160% GDP on the worlds fastest aging population (and most afraid of foreign workers) do they have any choice BUT to reflate their way out? And politicians want a decade for "reforms."

An end to quantiative easing may be announced at the end of Japanese Fiscal Year--but this could take a long, long time to play out. Markets 1st "verdict."
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rffrydr · Posted: Wed Jan 27, 2010 9:39 am Post subject:

A truer rating decline:

http://www.bloomberg.com/apps/news?pid=20601109&sid=aY.qBEMM0yck&pos=14
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Wed Jan 27, 2010 9:27 am Post subject:

A truer rating decline:

http://www.bloomberg.com/apps/news?pid=20601109&sid=aY.qBEMM0yck&pos=14
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Tue Jan 26, 2010 9:19 am Post subject:

Credit rating on Japan..... Laughing

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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Tue Jan 26, 2010 2:08 am Post subject:

Japan's credit rating lowered by S&P:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aocWdF_kzkbA&pos=1

HenryTo · Posted: Sun Jan 24, 2010 10:03 pm Post subject:

Speculation swirls on what the Bank of Japan may announce (or signal) tomorrow:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aveLLA6WSba4&pos=1

Ven · Junior Poster Joined: 30 Dec 2009 Posts: 24

"High sign of a culture in decline."

Good observation rff.
U.S. is experiencing the same thing.

rffrydr · Posted: Sat Jan 09, 2010 10:08 am Post subject:

Japanese romantic ballads interspersed amongst french same, with a heavy pop undertone--all streamed to your phone:

http://www.parischanson.jp/

High sign of a culture in decline--if only it weren't so damned captivating. That "Tour Eiffel" on the homepage is in Tokyo BTW.
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Mon Jan 04, 2010 8:40 pm Post subject:

Playing the FED spike you know will come? Beware the "Black Widow":

http://m.ft.com/cms/s/0/e590e35e-ef45-11de-86c4-00144feab49a.html?catid=93&SID=92953efc389df8698f331b37f2ff11c5
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Thu Dec 31, 2009 10:24 am Post subject:

Blue moon:

It was twenty years ago at the last tick of the last session that Japan put in its all-time high. The average annual total return on Japanese stocks since then has been -2.128% in USD terms and -4.326% in JPY terms.
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Thu Dec 10, 2009 1:30 pm Post subject:

Japan's debt, a deeper look may surprise:

http://www.ft.com/cms/s/0/08a732de-e399-11de-9f4f-00144feab49a.html
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Sun Dec 06, 2009 7:25 am Post subject:

They can sell yen.....lotsa lotsa yen.
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Sun Dec 06, 2009 1:10 am Post subject:

Still waiting for Japan to announce some kind of substantive policy. At this point - shorting of purchasing stocks or actual houses - I don't see anything else they could do in the short-run.
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Japan plans low-interest mortgage in stimulus -Nikkei Reuters - Sunday, December 6

TOKYO, Dec 6 - Japan's government will offer a low-interest mortgage programme next year to homeowners taking out fresh loans from a state-backed lender, to boost housing demand as part of economic stimulus efforts, the Nikkei business daily reported on Sunday.

About 260 billion yen will be earmarked for the program in an extra budget for the year to next March, expected to be compiled this week to fund the stimulus.

The government, in power for a little more than two months, is desperate to avoid another recession in an economy already mired in deflation, ahead of an upper house election in summer.

The dominant Democratic Party of Japan was seeking fiscal spending of 7.1 trillion yen, comprising 4 trillion yen in immediate spending and 3 trillion yen in tax grants to local governments. [ID:nBNG460798]

Under the mortgage programme, homeowners taking out 35-year loans from the Japan Housing Finance Agency will have the mortgage rate cut by 1 percentage point for the first 10 years, from a fixed annual interest rate of 2.6 percent on the loan.

The discount rate will be available through next year for those who purchased homes designed to be energy efficient, quake resistant, or accessible to handicapped and elderly.

The Japan Housing Finance Agency charges a fixed annual interest rate on the loan, developed jointly with private lenders. The discount rate by the state-backed body may draw criticism from private lenders, the Nikkei said.

Many people are taking out adjustable-rate mortgages from private banks because they have to pay only about 1 percent interest amid a super-easy monetary policy, it said.

rffrydr · Posted: Thu Dec 03, 2009 8:50 am Post subject:

Selling Yen is only thing left they can do that isn't half-hearted. It goes against the new administration but they can cover it as punishing "manipulation." Perversely the "Yen-day sales" has perked up retail.

I'm taking another look at JOF. Idea

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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Thu Dec 03, 2009 3:44 am Post subject:

The Bank of Japan is expected to keep on pumping liquidity into the economy. No half-hearted efforts will be worth going through at this point.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aPGMn6wbjszA&pos=6

Also looks like Einhorn isn't much of a global macro trader, as 10-year JGB yields continue to decline.

HenryTo · Posted: Tue Dec 01, 2009 10:20 am Post subject:

This move by the Bank of Japan should add some marginal liquidity to the financial markets, and is especially bullish for Japanese equities. The $64 billion question: Is this sufficient in any sense of the word?

http://www.nytimes.com/2009/12/02/business/global/02yen.html