Japanese companies and banks have been releasing earnings results. A key point for the bank sector has been valuation losses on foreign bond holdings, while for exporters, a higher USDJPY and better terms of trade have been a boon for earnings. JPY basis has been widening as USDJPY and JPY rates have benefitted from risk aversion.
In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido reviews April securities investing flows and Japanese lifers’ investment strategies for the first half of fiscal year 2022. He also shares his views on spot Dollar/Yen, Yen rates, and Yen cross-currency basis.
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