Quarterly Trading Report - Q1 2024: Changes In Rate Expectations

Japanese Industrial Production Strengthens As Retail Sales Disappoint

Weak manufacturing weighed on growth in the first quarter of the year in Japan. Industrial production saw stronger-than-expected gains in March. Retail sales dropped more than expected in March but are expected to improve in 1Q24. Labour market conditions remain healthy in Japan and consumption is likely to improve on back of a healthy labour market.

Weekly Market Pulse: Be Careful What You Wish For

Home Market Outlook Today's Market Weekly Market Pulse: Be Careful What You Wish For. Japanese PM Shinzo Abe launched his three arrows plan to revive the Japanese economy in 2012. The aim of the devaluation was to escape deflation. The Yen started to weaken in 2021 as the BOJ ramped up Yen printing.

3 Views On The Yen 'Collapse'

Weekly Report: what happened at FLJH last week (0422-0426)?

Markets Disappointed With Bank of Japan As Yen Hits New Lows

Bank of Japan left its key interest rates unchanged today. Markets are disappointed with the colourless policy guidance. The BoJ's latest quarterly outlook report and Governor Ueda's comments support our view of a 15bp hike in July. Tokyo inflation fell below the BoJ’s target of 2% in April, mainly driven by education prices.

Weekly Commentary: Opposite Day

The Semiconductor Index surged 9.9%, more than recovering from last week's 9.2% drubbing. The Bank of Japan just can't stop playing with fire. Short squeezes are alive and well. Tesla surged 14.4% this week. The bulls have plenty of fight.

Q1 2024 Active Management Review: Momentum And Growth Factors Outperform

Home Market Outlook Today's Market Q1 2024 Active Management Review: Momentum And Growth Factors Outperform. Another strong quarter in markets led to another stellar performance for the Momentum and Growth factors. The Momentum factor was the standout performer across all regions. Low Volatility was the worst performing factor in the quarter.

Equities Play A Waiting Game

Consumption continued to drive growth in the first quarter. The waiting game continues for the U.S. Federal Reserve and other major central banks to cut interest rates this year. 2024 is shaping up to be a “normal” expansionary year with healthy levels of economic growth and inflation.

Weekly Report: what happened at FLJH last week (0415-0419)?

Dollar Dominance And The Ghosts Of 1997

Weekly Commentary: World-Wide De-Risking/Deleveraging

Cooler Inflation Ahead Of The Bank of Japan Meeting

Can Japan's Stock Market Continue Its Record-Setting Run?

Inflation Progress May Be Bumpy, But Is Likely To Continue

The Tides Of Time: The Impact Of Aging Demographics

Weekly Report: what happened at FLJH last week (0408-0412)?

Global Market Perspectives Q2 2024: What's Not To Like?

Home Market Outlook Today's Market Perspectives Q2 2024: What's Not To Like? U.S. Economy continues to grow, overshadowing other major global economies of 2023. With most other global economies still struggling, the U.s. Will remain the strongest global performer.

The Bank of Japan's New Path Ahead

The Bank of Japan is set to normalise monetary policy when certain conditions are met. In March, the BoJ raised rates for the first time in 17 years. ING expects inflation to fall below 2% and a recovery in domestic demand growth to support growth in 2024. The market is pricing in a 25bp hike by the end of the year.

Springtime For Japanese Stocks

Japan may be blossoming again. Goods and wage inflation are returning, some companies are embracing real and significant corporate reforms, and the equity market has surged. The Japanese economy appears to be emerging from years of stagnation. A third of companies in Japan have price-to-book ratios below one.