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The dollar hit a six-week high amid Iran deal uncertainty. ETFs tied to the dollar may gain, while gold and emerging markets could struggle.
ProShares UltraShort Yen (NYSEARCA:YCS - Get Free Report) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 17,109 shares, a growth of 104.1% from the December 15th total of 8,384 shares. Based on an average daily trading volume, of 25,167
Japan stocks are rallying on the BoJ's dovish stance & Takaichi's pro-growth push. Play the trend via ETFs DXJ, DBJP, HEWJ, and YCS.
The “real” policy rate is massively negative, with the new policy rate of 0.25% far below Core CPI of 2.6%. When QT reaches about ¥3 trillion per month in 2026, it would represent a reduction of its JGB holdings of about 0.5% per month.
A weak yen is unlikely to end the positive momentum in Japanese equities. The drivers of the recent rally remain, so we stay overweight Japanese stocks.
The Bank of Japan stood pat on monetary policy today as widely expected. But the market is now paying attention to a more positive tone on the wage and inflation outlook, as well as an upgrade to the FY2024 inflation outlook which lays the groundwork for policy normalisation.
Things were looking tough for the BoJ as recently as this summer, when the country's core CPI bolted north of 4%, far beyond the 2% inflation target that major central banks view as ideal. The Bank of Japan is being reactive to an inflation threat that may very well be in the rearview mirror.
The debate over the future of Japan continues. Because of its small footprint, we often forget the oversized role Japan plays in the global economy.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.