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this bank of japan thing. you put out a very compelling tweet. i still don't think the audience understands. it is somewhat complicated. it is also sort of weird, that japan, bank of japan would have so much influence on our economy and our stock market. let's talk about this you outlined how we got here. in the beginning the bank of japan started printing insane amounts of money. >> absolutely. it starts printing a lot of money, charles. then it becomes the largest holder of equities in japan, creating a massive bubble that investors feel is going to be a safe bet, they're full. a lot of investors are going to start taking bets that our finance with cheap yen in very low rate japan and ultimately they're building risk and risk builds slowly but happens very fast. charles: right. >> and what happened was that after printing so much money the bank of japan found itself with a yen that was at the lowest level in 40 years. therefore it decided to intervene in the market. it put more than $30 billion to, sort of s
this bank of japan thing. you put out a very compelling tweet. i still don't think the audience understands. it is somewhat complicated. it is also sort of weird, that japan, bank of japan would have so much influence on our economy and our stock market. let's talk about this you outlined how we got here. in the beginning the bank of japan started printing insane amounts of money. >> absolutely. it starts printing a lot of money, charles. then it becomes the largest holder of equities in...
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Aug 5, 2024
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it's in the history of the bank of japan.ason why these funds, ctas and lever funds got caught offguard, but i also note that i think it's also about people getting worried in general about the environment, so, the yen is a flight to safety, you know, instrument, flight to safety generally, so, i think they played a role here, too, because we did have the geopolitical sort of environment, sort of context of iran playing in the background, as well. and if you take that to credit, credit spreads have widened a bit. it's still very marginal. if you think about it, if you price quote unquote emergency rate cuts, i think that seems for now a bit moderate. >> so, ben, everyone's focused on this direction right now. what's the knock-on effect, what's the next domino, if you will, that will fall? is it the fx desks on a lot of these banks? what is the next thing, if this gets worse, what should we all look for? >> yeah, that's a tough one, steve, because, you know, it's not the fx desk itself, because they, you know, they pair positi
it's in the history of the bank of japan.ason why these funds, ctas and lever funds got caught offguard, but i also note that i think it's also about people getting worried in general about the environment, so, the yen is a flight to safety, you know, instrument, flight to safety generally, so, i think they played a role here, too, because we did have the geopolitical sort of environment, sort of context of iran playing in the background, as well. and if you take that to credit, credit spreads...
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Aug 23, 2024
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bank of japan governor kazuo ueda has said the bank is still on pace.or, let us bring in our economy and government editor. i'm curious to see how you deciphered this speech. it was a pretty fine balance, right? he kind of needs to defend his positioning for credibility purposes, but he also wants to keep volatility subdued so they can keep tightening. >> yeah, that is right. i think this hearing was setting up to be a bit of a tight rope walk, not encouraging speculators either to jump on hawkish view of rate hikes imminent while at the same time not going in the other direction and getting to the view that the bank of japan was not going to take any policy moves for a long time. i think governor ueda has been successful in turning this potential tight rope walk into more of a walk in the park. he is kind of making this into a bit of a nonevent by just playing a very safe, cautious line while robustly sticking to the view that they are very much still on the path to rate hikes, and i think he has succeeded so far in keeping rate hikes on the table for
bank of japan governor kazuo ueda has said the bank is still on pace.or, let us bring in our economy and government editor. i'm curious to see how you deciphered this speech. it was a pretty fine balance, right? he kind of needs to defend his positioning for credibility purposes, but he also wants to keep volatility subdued so they can keep tightening. >> yeah, that is right. i think this hearing was setting up to be a bit of a tight rope walk, not encouraging speculators either to jump...
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Aug 7, 2024
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overnight, the deputy governor of the bank of japan says the bank will not raise rates as long as marketsre unstable. clearly an attempt to soothe global investors. is that what he meant or are investors interpreting that on their own? >> i think that it is important to note it is the bank of japan deputy governor. he spoke in the first person saying what he likes to see. here is the context i think that is important. when the bank of japan raised interest rates at the end of july,, the week of the yen contributed to the prices. the deputy said there may not be a need. he said -- he basically said it seemed to me he wanted to see policy remain accommodative. we are talking about a 25 basis point overnight interest rate. the fed is 5.25 to 5.5. a much higher inflation so real interest rates remain negative. people talk about the federal reserve put as if when the stock market sells off the federal reserve is there to ease policy. i think that is a mistake. the litmus test is financial stability. in three days we saw bank shares, the topix index of bank shares fall 23% in three days. not a
overnight, the deputy governor of the bank of japan says the bank will not raise rates as long as marketsre unstable. clearly an attempt to soothe global investors. is that what he meant or are investors interpreting that on their own? >> i think that it is important to note it is the bank of japan deputy governor. he spoke in the first person saying what he likes to see. here is the context i think that is important. when the bank of japan raised interest rates at the end of july,, the...
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Aug 2, 2024
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sadly we solved the bank of japan for markets. sadly we solved the bank ofjapan interest for markets. sadly we solved the bank of japan interest rates decision catch people off—guard, raising interest rates. that is the same time that we saw the federal reserve planning to cut interest rates in september. the markets are fearful after the back of a manufacturing survey yesterday that we saw the collapse, that points towards a rough session coming around the corner, at the same time we see inflation pressures building within the manufacturing sector. the stories around the japanese market at the moment firmly planted in the reversal we are seeing in terms of the japanese yen. how much of this relates to tech stocks and how much to interest rate decisions going forward? every time we see earning seasons come people become very fearful because of the sky—high valuations we have attached a tech company is at the moment. it has been evident over the course of recent weeks when we see alphabet coming out with strong numbers, then the fa
sadly we solved the bank of japan for markets. sadly we solved the bank ofjapan interest for markets. sadly we solved the bank of japan interest rates decision catch people off—guard, raising interest rates. that is the same time that we saw the federal reserve planning to cut interest rates in september. the markets are fearful after the back of a manufacturing survey yesterday that we saw the collapse, that points towards a rough session coming around the corner, at the same time we see...
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Aug 6, 2024
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last wednesday the bank of japan raised before.ast wednesday the bank ofjapan raised interest before. last wednesday the bank of japan raised interest rates and the japanese yen has been strengthening and this is why especially exporters�* shares have been hit hard. ifelt that the govern of the central bank yesterday because the crash was dubbed... because it seemed to have been triggered by that rate hike last week. there were other factors like the week jobs data last friday in the us but at least we are seeing some recovery in the japanese stock market. ~ . market. we will leave it there. thank you _ market. we will leave it there. thank you very _ market. we will leave it there. thank you very much. - market. we will leave it there. thank you very much. it - market. we will leave it there. thank you very much. it was i market. we will leave it there. thank you very much. it was a | thank you very much. it was a another brutal session on wall street with the dowjones slipping over 1000 points. her fear of a us recession continue
last wednesday the bank of japan raised before.ast wednesday the bank ofjapan raised interest before. last wednesday the bank of japan raised interest rates and the japanese yen has been strengthening and this is why especially exporters�* shares have been hit hard. ifelt that the govern of the central bank yesterday because the crash was dubbed... because it seemed to have been triggered by that rate hike last week. there were other factors like the week jobs data last friday in the us but...
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Aug 7, 2024
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the bank of japan increased interest rates, that was one of the reasons for the volatility we have seenw it has rolled back some of those comments and has pulled talks of further rate increases off the table. translation: i would have to say that factors have arisen _ that make it necessary to think carefully about raising rates. we won't hike rates when markets are unstable. let's pick up on that with clayton triick from the investment firm angel oak capital advisers who joins us from atlanta. ifi if i can pick up on the role that raising interest rates injapan plays in this, can you explain what that has to do with the carry trade and what is the carry trade? it is aood to and what is the carry trade? it is good to be _ and what is the carry trade? it is good to be on — and what is the carry trade? it 3 good to be on again. it is a combination of a few factors, the bank ofjapan surprising with combination of a few factors, the bank of japan surprising with policy in the last week, in combination with an underperforming labour market on friday. we got a pretty surprising jobs report he
the bank of japan increased interest rates, that was one of the reasons for the volatility we have seenw it has rolled back some of those comments and has pulled talks of further rate increases off the table. translation: i would have to say that factors have arisen _ that make it necessary to think carefully about raising rates. we won't hike rates when markets are unstable. let's pick up on that with clayton triick from the investment firm angel oak capital advisers who joins us from atlanta....
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Aug 30, 2024
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what kind the bank of japan do to combat? well, i mean the, the, the, the, the not the conditions or the condition and as we all know, the document a rather the, you know, we don't know the right mindset is the, you're over the, for the governor. normalize each are free by the law as long as they should fire fire. i the ways there. yeah. so it depends on standalone doesn't as long as the wells major, major central banks of the world in raising interest rates at this time, it didn't seem to come with a bit of a surprise. so many people surprise the prize. you know, the right, the either says the 30 years, all right. and now that the economy is doing better is probably normalized capitalism to bring back where no the buyer but was privacy or the other part of the is a big the, uh, so i guess is it best. so it could all make policy generally to, to raise interest rates. i keep the in strong or to lower them and encourage domestic spending the heavy function you know, the function tomorrow we are the what is the indeed the privat
what kind the bank of japan do to combat? well, i mean the, the, the, the, the not the conditions or the condition and as we all know, the document a rather the, you know, we don't know the right mindset is the, you're over the, for the governor. normalize each are free by the law as long as they should fire fire. i the ways there. yeah. so it depends on standalone doesn't as long as the wells major, major central banks of the world in raising interest rates at this time, it didn't seem to come...
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Aug 7, 2024
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and next thing you think bank of japan comes up.ou talking about? >> the narrative has evolved. this actually speaks to a fundamental issue that there are no anchors to this market. there's no growth anchor. thursday and friday, the narrative was the market disruption was due to economic developments in the u.s. then comes monday. and suddenly everybody is pointing the finger to japan. and by today, if you noticed, people have talked all about positioning. positioning has become the main culprit for what had a happened. people forgot thursday and friday. the minute they say positioning, you look at your pen. the narrative has evolved to put the emphasis on japan as being the cause. now all those people who rushed to predict intrameeting cuts and everything else have to scramble to get back on. it's fascinating to watch a really well paid industry whip saw the way it has been whip sawed. dani: to that point, not even forgetting japan, it happened in the u.s. too. note after note said this was about positioning. this is actually extre
and next thing you think bank of japan comes up.ou talking about? >> the narrative has evolved. this actually speaks to a fundamental issue that there are no anchors to this market. there's no growth anchor. thursday and friday, the narrative was the market disruption was due to economic developments in the u.s. then comes monday. and suddenly everybody is pointing the finger to japan. and by today, if you noticed, people have talked all about positioning. positioning has become the main...
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Aug 5, 2024
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i think one of the reasons why this has become harder is the bank of japan announces it's going to cuter the next two years its own purchases of j.d.b.'s. they've been providing liquidity to the world for many years. again, you go back on that, perhaps we might see them slow that down. that would being not the fed's job, but the bank of japan's job, but i'm sure they talk. the federal reserve needs to cut interest rates, absolutely. should have cut last wednesday, possibly upon reflection. certainly should cut on september 18. doesn't matter if it's by 25 or 50. if it's 50, then great. if it's 25, but it needs to come a little bit more surety, not necessarily cutting every meeting, but also get on with lowering overly restricteddity rates down to a level that's more personal. sonali: to that end, we have only 30 seconds left here, how concerned are you about a recession today than maybe week a week ago? marcus: less. actually covering the services sector, the payroll number wasn't great, but wasn't terrible either. we have a hurricane to possibly affect it. i think recession is a poten
i think one of the reasons why this has become harder is the bank of japan announces it's going to cuter the next two years its own purchases of j.d.b.'s. they've been providing liquidity to the world for many years. again, you go back on that, perhaps we might see them slow that down. that would being not the fed's job, but the bank of japan's job, but i'm sure they talk. the federal reserve needs to cut interest rates, absolutely. should have cut last wednesday, possibly upon reflection....
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Aug 7, 2024
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using content, and stocks rise and the slums after that is, from the bank of japan.id solomon says he is not expecting an emergency cut from the fed. campaign kickoff. kamala harris takes aim at key states after governor tim walz was picked for the democratic ticket. the mastermind of the octobers of the tax is named as the new political leader of hamas, diminishing hopes of a gaza cease-fire. will bring you the latest from the middle east. let's check in on these markets. the only story that remains front and center, we had a be coming through. we have a downgrade in terms of the margin story. we'll bring you the details as they crossed. the most valuable company in new york coming through in terms of the latest second-quarter earnings. it is a mess in terms of net income. i will bring you more details as and when we get them. we look at the market story adjusting rally -- that stock you today. here is the redhead. of 20% and up 28%. they have raised their guidance on the top end of that range in terms of operating profit for the business. we know analysts have been
using content, and stocks rise and the slums after that is, from the bank of japan.id solomon says he is not expecting an emergency cut from the fed. campaign kickoff. kamala harris takes aim at key states after governor tim walz was picked for the democratic ticket. the mastermind of the octobers of the tax is named as the new political leader of hamas, diminishing hopes of a gaza cease-fire. will bring you the latest from the middle east. let's check in on these markets. the only story that...
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Aug 26, 2024
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the makeup japan -- the bank of japan it -- japan hinted it might increase interest rates if inflation continues to accelerate. the european central bank is effectively sitting on its hands and saying if inflation continues to fall, we will take action. in other words, the other three major central banks are not looking at the fed for guidance because they have their own problems. >> i think the main disagreement seems to be over timing. the general trend is the same. the fed is likely to move to ease and the boj to tighten. let's take a look at the yen. it has strengthened impressively. where do we have it by year end? >> let's take two items here. if the fed cuts in september, the yen will continue to appreciate because the differentials are widening in favor of the yen, narrowing against the dollar. if the bank of japan, and we are going to have some numbers coming soon, clears its throat and says, well, perhaps inflation is not going away we want so we are going to wait and we are not cutting, the end will appreciate. so if you want an overall trend, it looks to be the yen will not
the makeup japan -- the bank of japan it -- japan hinted it might increase interest rates if inflation continues to accelerate. the european central bank is effectively sitting on its hands and saying if inflation continues to fall, we will take action. in other words, the other three major central banks are not looking at the fed for guidance because they have their own problems. >> i think the main disagreement seems to be over timing. the general trend is the same. the fed is likely to...
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Aug 9, 2024
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manus: the bank of japan learned politicians push them along the way. very quickly, do you think that that is bluster or a real challenge to u.s. exceptionalism if it were to come to pass, true interference from the president if he became the president? jay: to be clear, i think that the fed has benefited from being an independent institution. the independence of it and other developed market central banks have been helpful in obtaining 2% inflation over time. if there was a perception that the fed was to be less independent, i think that inflation expectations, which have been well anchored close to 2%, would be at risk of rising. that would mean that there would be the risk that long-term yields could climb on the back of that as markets perceive the fed to be less independent and less attentive to both sides of its mandate. i think that it's independence is a strong positive for the fed, and any change to that could put inflation expectations at risk. manus: thank you for joining me on "real yield ." next, we have touched on the auctions, but we will
manus: the bank of japan learned politicians push them along the way. very quickly, do you think that that is bluster or a real challenge to u.s. exceptionalism if it were to come to pass, true interference from the president if he became the president? jay: to be clear, i think that the fed has benefited from being an independent institution. the independence of it and other developed market central banks have been helpful in obtaining 2% inflation over time. if there was a perception that the...
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Aug 6, 2024
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of japan.s performance, the compa ny�*s performance, the fundamentals company's performance, the fundamentals are still fairly strong for those japanese companies and the economy has been doing quite well. many analysts were saying yesterday don't sell in panic because this would come back, and today we are definitely seeing that recovery today.— recovery today. mariko oi in singapore — recovery today. mariko oi in singapore today, _ recovery today. mariko oi in singapore today, thank - recovery today. mariko oi in singapore today, thank you | recovery today. mariko oi in i singapore today, thank you for bringing us up—to—date in what has been happening on the asian markets. we're nowjust hours away from learning who kamala harris is going to pick as her running mate for november's election. the vice president spent the weekend interviewing several contenders at her home in washington, dc. among those who travelled to speak with her were pennsylvania governor josh shapiro, arizona senator mark
of japan.s performance, the compa ny�*s performance, the fundamentals company's performance, the fundamentals are still fairly strong for those japanese companies and the economy has been doing quite well. many analysts were saying yesterday don't sell in panic because this would come back, and today we are definitely seeing that recovery today.— recovery today. mariko oi in singapore — recovery today. mariko oi in singapore today, _ recovery today. mariko oi in singapore today, thank -...
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Aug 8, 2024
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of japan, 30% probability of another hike from the bank of japan. which shouldn't come as much of a surprise the second time around. the train has already left the station. so with that in mind, if we break 5100 on the s&p 500, let's say the yen re-accelerates, dollar's moved up by figures in the past. so to a certain extent that breathlessness has been removed. but if they begin to relock and reload and we break 5100, what does that do to the s&p 500? laurie says that's 14% to 19% potential drop. we're talking about potentially a bear market. >> yeah. and i tend to lean in that direction. when i chart weekly or monthly stats on the s&p 500, i in my opinion, a natural price range would be somewhere between 4900 and about 4100. when i say natural i'm talking about a natural progression. markets are built to go higher. that's just how it works. but they're not built to go as far and as fast as what we've seen in this most recent rally. just to break at 49 pun puts us -- 4900 puts us at a comfortable position. 4700 is what i'm targeting on the down sid
of japan, 30% probability of another hike from the bank of japan. which shouldn't come as much of a surprise the second time around. the train has already left the station. so with that in mind, if we break 5100 on the s&p 500, let's say the yen re-accelerates, dollar's moved up by figures in the past. so to a certain extent that breathlessness has been removed. but if they begin to relock and reload and we break 5100, what does that do to the s&p 500? laurie says that's 14% to 19%...
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maybe we didn't have to do it because it really was up to the bank of japan to do it. that's where the turmoil was epicenterred. but if the market had gone straight down, i think it would have gotten the fed's attention, for sure. neil: that usually does happen. ed, have a great weekend. >> thank you, bye-bye. neil: ed yardeni. now the other side of the equation, fair and balanced, another brilliant fellow, harry dent, one of the earliest to take a look at prior, crashes when a lot of people were completely missing the boat. so you might not, if you're long this market, like everything that harry's about to say, but i think you'll be impressed by his rationale, why he's saying it. harry, great to have you back. one of the things you look at is just how markets can sometimes get ahead of themselves. i don't want to oversimply fite, but you kind of think this market's gotten ahead of itselfs, and you are still of that view? >> well, yeah. what i really look at is what do people really do to drive the economy. they grow up, they enter the work force, age 20. earn and spen
maybe we didn't have to do it because it really was up to the bank of japan to do it. that's where the turmoil was epicenterred. but if the market had gone straight down, i think it would have gotten the fed's attention, for sure. neil: that usually does happen. ed, have a great weekend. >> thank you, bye-bye. neil: ed yardeni. now the other side of the equation, fair and balanced, another brilliant fellow, harry dent, one of the earliest to take a look at prior, crashes when a lot of...
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Aug 8, 2024
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the bank of japan raises rates.that on july 31st to strengthen the yen against the dollar. this is the carry trade. invest in the higher-yielding assets had to unwind that position. that led to the selling pressure across assets gls globally. the jobs report last friday was weak and jamie dimon is talking about the recession whispers. that's really what happened on mond monday. it is important to understand that, frank. >> we understand what happened on monday, tiffany, but what about today? the estimate for this week is 2 240kf. it comes in over that, do you feel the recession fears pick up? >> potentially. right now, we are in august. we have until september potentially raises rates. the economic data coming out, including today u i, is really g to affect. that we will see that volatility. people are talking about the election and all of the things going on in the world. i think the single most important thing that's going to drive the markets whether the fed is going to cut rates in september and any little piece
the bank of japan raises rates.that on july 31st to strengthen the yen against the dollar. this is the carry trade. invest in the higher-yielding assets had to unwind that position. that led to the selling pressure across assets gls globally. the jobs report last friday was weak and jamie dimon is talking about the recession whispers. that's really what happened on mond monday. it is important to understand that, frank. >> we understand what happened on monday, tiffany, but what about...
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Aug 23, 2024
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the bank of japan's ueda saying his central bank is still on a path toward higher interest rates if inflation and kmec data continues to meet their forecasts. >> if we are unable to confirm a rising is that right economy and price also stay in line with forecasts then there is no change to our stance and we'll continue to adjust the degree of easing. lizzy: so sessions on the docket today from governor ueda. paul, how successful do you think he has been this morning and this year in communicating the boj's position? >> well, certainly today, i think he has turned a potential tight rope scenario into something more like a walk in the park. it's been relatively successful. he has managed to keep rate hikes on the table. he's also reassured markets that he will look at market moves very carefully with extreme care. and at the same time he has also pushed back a little bit against the criticism that the boj helped spark this huge market rout. he has played down the rate hikes significance in terms of sparking the rout. has the rate hike on july 31. at the same time, he said the decision was appro
the bank of japan's ueda saying his central bank is still on a path toward higher interest rates if inflation and kmec data continues to meet their forecasts. >> if we are unable to confirm a rising is that right economy and price also stay in line with forecasts then there is no change to our stance and we'll continue to adjust the degree of easing. lizzy: so sessions on the docket today from governor ueda. paul, how successful do you think he has been this morning and this year in...
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Aug 7, 2024
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this is the japan central bank of our semis.ou don't expect someone who's a very calm guy -- sanjay, i got to tell you. family guy. when i talk with him, i mean, just very quickly devolve, asks about my wife, you always get into it, why? because he is a calm, considered man, so for him to do this buyback here says, enough already. and he has great credibility. >> you can see what's happened to that stock along with so many others. >> that's been the leader. >> had been the leader and you can see how down from its peak. yet still up, by the way, as we need to point out many times. this up 34% for the year. trading with the s&p up 9.8% and the nasdaq up a very similar 9% for the year. >> no panic. >> here we are. your point on the vix is an interesting one. bob pisani pointed this out many times. on monday, we had the biggest spike, i think, in history, up 42 points at one point in the preopen, at least as far as the data can go back on that. and then, yesterday, it fell the most since, i'm seeing here, since 2010. like, does -- b
this is the japan central bank of our semis.ou don't expect someone who's a very calm guy -- sanjay, i got to tell you. family guy. when i talk with him, i mean, just very quickly devolve, asks about my wife, you always get into it, why? because he is a calm, considered man, so for him to do this buyback here says, enough already. and he has great credibility. >> you can see what's happened to that stock along with so many others. >> that's been the leader. >> had been the...
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Aug 8, 2024
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in the past 24 hours, we seem to have conflicting messages from the bank of japan. some things sound dovish, some things sound hawkish. the chief walked back on his comments yesterday. no wonder equity traders and young traders don't know where to go. once things settle down, they will be looking at the fact that there are four more bank of japan meetings this year. plenty of time for the bank to raise interest rates if market conditions allow. then you have a bunch of federal reserve meetings. in terms of expecting volatility to die down, unlikely. there will be plenty and u.s. elections coming. people will get used to it. what is happening in japan will probably stay for some time. paul: i want to bring in our chief asia economist of morgan stanley. there are four bank of japan meetings, opportunities to cut and opportunities for chaos. what is your opinion with the communications we have heard from the boj in the past week or so? do they need to change the attack a little? chetan: good morning. i think the key challenge that the boj has is that the communication
in the past 24 hours, we seem to have conflicting messages from the bank of japan. some things sound dovish, some things sound hawkish. the chief walked back on his comments yesterday. no wonder equity traders and young traders don't know where to go. once things settle down, they will be looking at the fact that there are four more bank of japan meetings this year. plenty of time for the bank to raise interest rates if market conditions allow. then you have a bunch of federal reserve meetings....
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Aug 15, 2024
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based on the bank of japan's movement, a bunch of investors began to unwind those traits. all that created more market uncertainty and volatility, but i would not call it extraordinary. my view is that the best chance as we look forward is the economy will choke along and we probably won't see a recession, but the possibility is not zero. it is never zero. david: do you think there is a lot more pain to come in the financial markets or are we basically avoiding a hard landing, so-called, and might we go through this for another year or two without a hard landing? david s.: i think we will see more volatility in the short term. this was a. -- pretty big, pretty meaningful correction and a big unwind of leverage, as we had discussed, in certain parts of the system. my guess is we will see a little more rebalancing, but my base case is still that there is a good chance the economy is still in reasonable shape as we said a few moments ago. the jobs report, while it was disappointing, was not a jobs report. unemployment levels are not bad unemployment levels, so my base case is
based on the bank of japan's movement, a bunch of investors began to unwind those traits. all that created more market uncertainty and volatility, but i would not call it extraordinary. my view is that the best chance as we look forward is the economy will choke along and we probably won't see a recession, but the possibility is not zero. it is never zero. david: do you think there is a lot more pain to come in the financial markets or are we basically avoiding a hard landing, so-called, and...
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of course you have to wonder how much things have changed since the moves from the bank of japan.ust have to deal within the context of the u.s. but also got other central banks around the world that are making aggressive moves. >> this is a big deal. i think the carry trade unwind is pretty important. the nikkei dropped 25% in a very short amount of time. basically what you have is the funding currency. japanese yen, institutions were borrowing that for free to buy the most crowded trades the "magnificent seven." as the cost of capital went up they had to return that capital and unwind the "magnificent seven" trades. so it is like the fed as the bank of japan hiked had the opportunity to cut to make up that illiquidity. they didn't do that. so where is the liquidity going to come from? we had 35 central bank cuts globally in the last three months. the last time we had that many cuts was april 2020. charles:' with ever had the sort of carry trade relationship. so we have that with the bank of pakistan or something like that? i'm being a little facetious about it here but i never h
of course you have to wonder how much things have changed since the moves from the bank of japan.ust have to deal within the context of the u.s. but also got other central banks around the world that are making aggressive moves. >> this is a big deal. i think the carry trade unwind is pretty important. the nikkei dropped 25% in a very short amount of time. basically what you have is the funding currency. japanese yen, institutions were borrowing that for free to buy the most crowded...
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Aug 13, 2024
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a lot of criticism at the timing of the bank of japan move.rybody is a bit skittish at the moment. there will be a parliamentary inquiry in japan starting this week to discuss was there something wrong with that timing of that decision. so mistry weight is very much going to be in the spotlight. but there are three more central bank meetings. i don't think anyone realistically expected the change of rates in september anyway. so then we get ahead of ourselves to say that just because they raise rates in the last meeting, that they would do it again in the next meeting. that has not been their style. it was always much more likely it would be towards her fourth quarter, providing that the data continues to support the story. they've had their wages increases that have happened. they are pretty sticky. we are about to get civil service in japan that will get the largest increase in about three decades. clearly that is happening is the boj wanted. but they probably would like to see a little bit more evidence in the cpi in japan, which has been t
a lot of criticism at the timing of the bank of japan move.rybody is a bit skittish at the moment. there will be a parliamentary inquiry in japan starting this week to discuss was there something wrong with that timing of that decision. so mistry weight is very much going to be in the spotlight. but there are three more central bank meetings. i don't think anyone realistically expected the change of rates in september anyway. so then we get ahead of ourselves to say that just because they raise...
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Aug 17, 2024
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and based on the bank of japan's movement, a bunch of investors began to unwind those trades. so all that created a little bit more market uncertainty and a little bit of volatility. but i wouldn't -- i wouldn't call it extraordinary by any means. you know, i do think that we're getting a correction here after a very strong run in the markets. and that might be healthy. in terms of your question about a recession, our economists have upped their chance of a recertification to 25% from 15%. you know, all of that i think is a little lower than the broad consensus. my view is that the best chance as we look forward is, you know, the economy will chug along and we probably won't see a recession. but the possibility is not zero. it's never zero. david: do you think there's a lot more pain to come in the financial markets or are we basically avoiding a hard landing so-called and likely to glide through this for another year or two without any hard landing? david s.: i think we're going to see more volatility in the short term here. this was a pretty big -- pretty meaningful correcti
and based on the bank of japan's movement, a bunch of investors began to unwind those trades. so all that created a little bit more market uncertainty and a little bit of volatility. but i wouldn't -- i wouldn't call it extraordinary by any means. you know, i do think that we're getting a correction here after a very strong run in the markets. and that might be healthy. in terms of your question about a recession, our economists have upped their chance of a recertification to 25% from 15%. you...
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Aug 6, 2024
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ofjapan, the rate hike last week when the bank of japan, the country's central bank hiked the cost ofhat was enough to trigger a suddenjump in the but that was enough to trigger a sudden jump in the value of japanese currency, the end. japanese currency, the end. japanese authorities have been wanting this kind of things for many years, many months, rather, because the weakness in the japanese yen has been a bit too extreme and while it is good news for exporters it makes the cost of imports for things like food and fuel more expensive so the japanese authorities have been intervening in the currency market spending $100 billion, not million, since the end of april to try and prop up the value of the japanese currency. then came the rate hike last week and suddenly the yen was rallying and that is why shares in exporters have been hit badly yesterday and it also had a knock—on effect on asian markets as well. a knock-on effect on asian markets as well.— a knock-on effect on asian markets as well. what about knock-on — markets as well. what about knock-on effects _ markets as well. wha
ofjapan, the rate hike last week when the bank of japan, the country's central bank hiked the cost ofhat was enough to trigger a suddenjump in the but that was enough to trigger a sudden jump in the value of japanese currency, the end. japanese currency, the end. japanese authorities have been wanting this kind of things for many years, many months, rather, because the weakness in the japanese yen has been a bit too extreme and while it is good news for exporters it makes the cost of imports...
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Aug 5, 2024
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it started to present a threat to the japanese economy and how the bank of japan japanese economy andministry of finance managed the whole thing. it wasjust of finance managed the whole thing. it was just getting too big and it is time to get rid of it. there will be a new analysis about investors, what they are going to be doing. i imagine the domestic brokers will be saying some soothing things today and get everything back on track.— back on track. what are your exnectations _ back on track. what are your expectations for _ back on track. what are your expectations for the - back on track. what are your expectations for the months| expectations for the months ahead? i expectations for the months ahead? ~ , expectations for the months ahead? ~' , ., ahead? i think we will see a confirmation _ ahead? i think we will see a confirmation that _ ahead? i think we will see a confirmation that the - ahead? i think we will see a i confirmation that the japanese economy is in good shape, certainly corporate �*s are in good shape and we will start to see interest in the stocks again which wil
it started to present a threat to the japanese economy and how the bank of japan japanese economy andministry of finance managed the whole thing. it wasjust of finance managed the whole thing. it was just getting too big and it is time to get rid of it. there will be a new analysis about investors, what they are going to be doing. i imagine the domestic brokers will be saying some soothing things today and get everything back on track.— back on track. what are your exnectations _ back on...
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Aug 22, 2024
08/24
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you throw on top of that other central banks, we mentioned bank of japan, and i think that's why the gold trade is far from over. >> why do i hate to hear that? >> i've been around you a long time. come on, sara. we've had this conversation. >> i'm not a gold bug. >> i'm not a bug. look at what it's done. >> gold up today. i'll give you that. >> thank you. >>> when we come back, a buzz kill grewing in shares of william sonoma. the numbers that have the high end home goods retailer spiraling, next. >>> plus, euphoria for crocs, as a blockbuster deal is inked with the company. we're going to try this one on for size, next. is it me... or is work not working? at least, not the way it could work. your people are buried in busy work. and you might be thinking... can ai make it all work? it can. on the servicenow platform, ai transforms your entire business. because when your people work better, everything works better. so, let's get to work. idris elba works here? mm-hmm. ya, he's super nice. you are bountiful. your skeleton can support two times your weight. it's in your nature to stand
you throw on top of that other central banks, we mentioned bank of japan, and i think that's why the gold trade is far from over. >> why do i hate to hear that? >> i've been around you a long time. come on, sara. we've had this conversation. >> i'm not a gold bug. >> i'm not a bug. look at what it's done. >> gold up today. i'll give you that. >> thank you. >>> when we come back, a buzz kill grewing in shares of william sonoma. the numbers that have...
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Aug 1, 2024
08/24
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they raised rates but it shows the bank of japan is trying to return its monetary policy to somethingd it also shows they think the economy is ready for higher rates. i was actually playing this, her gong across bbc radio. can i play this? there you go. a gong. the n has been rallying, especially after the central bank governor said he was ready to raise rates even further. the currency hitting 148 against the us dollar. —— yen. not long ago we were talking about 160 against the dollar. this is what authorities and business leaders wanted because the yen was getting too weak but as a nation of exporters a strong yen makes their products more expensive abroad and that is why we are seeing shares falling. meanwhile, japanese authorities confirmed they have spent an additional $36 billion to intervene in the currency market to prop up the value of the japanese yen and this means they have spent almost $100 billion, not million, billion dollars since the end of april. 0ne dollars since the end of april. one could argue all it needed was a rate hike or maybe their combined actions resulted
they raised rates but it shows the bank of japan is trying to return its monetary policy to somethingd it also shows they think the economy is ready for higher rates. i was actually playing this, her gong across bbc radio. can i play this? there you go. a gong. the n has been rallying, especially after the central bank governor said he was ready to raise rates even further. the currency hitting 148 against the us dollar. —— yen. not long ago we were talking about 160 against the dollar....
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Aug 9, 2024
08/24
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fit, so should the bank ofjapan toddler throwing a fit, so should the bank of japan have stood firm messages all part of their plans? we will never know. �* , , ., of their plans? we will never know. �* , ~' ., know. i'm sure you will know and bring _ know. i'm sure you will know and bring us _ know. i'm sure you will know and bring us the _ know. i'm sure you will know and bring us the answer - know. i'm sure you will know and bring us the answer at i know. i'm sure you will know - and bring us the answer at some point. thank you very much indeed. we will pause and take a look at either new stories. the uk's competition watchdog has confirmed it's launching a merger inquiry into amazon's partnership with artificial intelligence firm anthropic. the tech giant has invested $4 billion into the us ai company. the competition and markets authority has said it has "sufficient information" to begin an initial investigation into the partnership. secondhand clothes app vinted has abandoned an update to its delivery options after users said it would make selling more difficult. vinted is pop
fit, so should the bank ofjapan toddler throwing a fit, so should the bank of japan have stood firm messages all part of their plans? we will never know. �* , , ., of their plans? we will never know. �* , ~' ., know. i'm sure you will know and bring _ know. i'm sure you will know and bring us _ know. i'm sure you will know and bring us the _ know. i'm sure you will know and bring us the answer - know. i'm sure you will know and bring us the answer at i know. i'm sure you will know - and...
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Aug 6, 2024
08/24
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but the the bank of japan has raised interest rates, which is a break from what other countries are doing because they recognize that a needs to raise just rates and therefore boost the value of its currency over the last year or so, the value of the yen has dropped significantly against the greenback, making the cost of imports for things like food and fueled that much more expensive. so the bank of japan raised interest rates and therefore boosted the value of its currency but the sudden surge we saw a monday really spooked hedge funds and also investors, which is why we saw that sudden panic selling. now again, because the value of the yen has dipped a little bit, it's now trading at 146 yen to the dollar that's east and soothe some nerves. now, we can expect talk to us and uk markets to open higher like asia markets have done, but experts are warning me that we're not out of the woods just yet. and central banks will watch with bated breath with the u.s. federal reserve will do come september. rosemary, hanako montgomery joining us live from tokyo with that report. >> appreciate it we
but the the bank of japan has raised interest rates, which is a break from what other countries are doing because they recognize that a needs to raise just rates and therefore boost the value of its currency over the last year or so, the value of the yen has dropped significantly against the greenback, making the cost of imports for things like food and fueled that much more expensive. so the bank of japan raised interest rates and therefore boosted the value of its currency but the sudden...
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Aug 6, 2024
08/24
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because of the bank of japan recently raised rates, that unsettled a lot of these trades and that wasther piece of that. the other piece also is tech companies because of that, it is suggested that they have become overvalued and this is simply the market is correcting itself. there are a lot of factors at play here but for now, a bit of a comedy. six weeks to go into the decision but for now thank you. economic worries have dampened energy prices. saudi state oil reported a dip in profits, low crude production is recorded to report a profit of 29 billion in the second quarter and didn't prevent it from keeping its generous dividend policy is. paying out $31 billion during the quarter. for more, here's the bbc�*s respondent. it for more, here's the bbc's respondent-— respondent. it is exceeded expectations _ respondent. it is exceeded expectations that - respondent. it is exceeded expectations that there - respondent. it is exceeded| expectations that there are respondent. it is exceeded - expectations that there are no six surprises on that front. if you look at the net revenues, the
because of the bank of japan recently raised rates, that unsettled a lot of these trades and that wasther piece of that. the other piece also is tech companies because of that, it is suggested that they have become overvalued and this is simply the market is correcting itself. there are a lot of factors at play here but for now, a bit of a comedy. six weeks to go into the decision but for now thank you. economic worries have dampened energy prices. saudi state oil reported a dip in profits, low...
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Aug 9, 2024
08/24
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how constrained is the bank of japan by the fed's next steps?at does that tell us about where the boj, whose from here -- boj goes from here? >> we got a little bit of insight there. the divergence between these two central banks, you know, 50 basis point cuts, emergency at the fed, u.s. banks, then you have got the boj, saying we will hike, but it will be incrementally and there is no rush to do so, but at the same time, within the boj, if you look one component at a time if -- time, you know. but if they do, you will see you way -- see ueda will make arguments to not disrupt the market too much. he seen what can happen in the commentary around that. with the fed, when powell talked about putting september on the table, the markets have run with that immediately. they are talking 50 basis points. what the fed is worried about is not starting -- once they start, they cannot start and stop. they have to keep going. so they want to make sure, like mary nicola said earlier, the inflation genie is in the bottle. that comes next week. i think the gui
how constrained is the bank of japan by the fed's next steps?at does that tell us about where the boj, whose from here -- boj goes from here? >> we got a little bit of insight there. the divergence between these two central banks, you know, 50 basis point cuts, emergency at the fed, u.s. banks, then you have got the boj, saying we will hike, but it will be incrementally and there is no rush to do so, but at the same time, within the boj, if you look one component at a time if -- time, you...
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Aug 8, 2024
08/24
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investors may be reacting to the latest minutes from the bank of japan's reacting to the latest minutesapan�*sjuly meeting where policymakers said the central bank should keep raising interest rates, which of course rattled markets earlier this week. the garment factories in bangladesh, which supply major western brands such as h&m, zara and carrefour, have reopened after days of shutdown due to the ongoing protests and violence that ousted the sheikh hasina government. bangladesh is the third largest exporter of clothing in the world and the sector is crucial for the economy as it attempts to rebuild. the bbc�*s archana shukla reports. it's the lifeline for the economy, the largest dollar earnerfor bangladesh. garments account for over 83% of the country's export and even a day of shutdown means losses. from h&m to zara, gap, uniqlo, marks & spencer, among hundreds of other global brands sourced from bangladesh. it is the third largest textile exporter globally, after china the european union. and this in fact is their main bulk season, preparing for the christmas shipments and taking
investors may be reacting to the latest minutes from the bank of japan's reacting to the latest minutesapan�*sjuly meeting where policymakers said the central bank should keep raising interest rates, which of course rattled markets earlier this week. the garment factories in bangladesh, which supply major western brands such as h&m, zara and carrefour, have reopened after days of shutdown due to the ongoing protests and violence that ousted the sheikh hasina government. bangladesh is the...
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Aug 29, 2024
08/24
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we have the fed's next move likely down, the bank of japan's next move likely to be up. can you dig into your reason? kaia: i'm suspicious and a bit unsure whether bank of japan will deliver the rate hike. i have a feeling that the boj is fairly scared of the market reaction, even though they have signaled the rate hike would be on the cards before the previous night, and we saw what happens. one of the biggest risks in the market right now is the dollar yen nearing 140 and that would trigger another round of the trade in the carry trade, and that definitely will be a limit on oil markets. hence, i think maybe boj will be a bit more cautious with their hike. like i said earlier, i don't think the it will cut as much as the markets have priced in, so my narrative and belief is the dollar could be stronger predominantly because less than expected rate cuts and geopolitical risks. paul: kaia parv, thank you for joining us. still to come on bloomberg markets, asia, are interview with gregory, the ceo of air new zealand. that is coming up later. this is bloomberg. ♪ ♪♪ ♪♪ san
we have the fed's next move likely down, the bank of japan's next move likely to be up. can you dig into your reason? kaia: i'm suspicious and a bit unsure whether bank of japan will deliver the rate hike. i have a feeling that the boj is fairly scared of the market reaction, even though they have signaled the rate hike would be on the cards before the previous night, and we saw what happens. one of the biggest risks in the market right now is the dollar yen nearing 140 and that would trigger...
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Aug 9, 2024
08/24
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last week the yen spiked as the bank of japan unexpectedly raised rates from 0.1% to 0.25% — the highestarkets fell to record lows. and then this week we've seen us and european markets fall on fears over the health of the us economy. however today, there have been some green shoots. joining me now is michael field, european equity strategist at morningstar. michael, it's been quite a turnaround. are markets out of the woods? i think it's been a positive mood this week which has been welcomed after the abrupt end last week. it was just one data point from the us and the markets got spooked. much data points... investors had a little bit of time to catch up with this, think about what has been happening with earnings, and they've come to the conclusion that things aren't all that bad.— aren't all that bad. there was a surie on aren't all that bad. there was a surge on wall— aren't all that bad. there was a surge on wall street _ aren't all that bad. there was a surge on wall street as - aren't all that bad. there was a surge on wall street as wall i aren't all that bad. there was a - surg
last week the yen spiked as the bank of japan unexpectedly raised rates from 0.1% to 0.25% — the highestarkets fell to record lows. and then this week we've seen us and european markets fall on fears over the health of the us economy. however today, there have been some green shoots. joining me now is michael field, european equity strategist at morningstar. michael, it's been quite a turnaround. are markets out of the woods? i think it's been a positive mood this week which has been welcomed...
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Aug 1, 2024
08/24
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we are seeing quite a bit of weakness for japanese stocks following that decision from the bank of japanor markets to process what governor ueda had to say. since then, we have seen yen strength. the nikkei selling off pretty hard today, down by about 2.5%. elsewhere, seeing some modest gains in korea, also here in australia. plenty more in a moment. this is bloomberg. ♪ paul: welcome back. china markets just heading to lunch. this -- off by about a bit more than 1%. this follows yesterday, the csi having its best day in six months without state support. since then, manufacturing pmi sinking back into contraction, so chinese stocks giving up some of the gains we saw yesterday. let's check in on markets elsewhere, including japan, which is seeing quite a bit of selling at the moment. avril: absolutely. deeply negative on japanese equities. this is against a backdrop of what we are seeing in most of the asia-pacific after the federal reserve cleared the uncertainty out of the way about the september rate cut, but of course, it is about the boj. that is what we are grappling with after the
we are seeing quite a bit of weakness for japanese stocks following that decision from the bank of japanor markets to process what governor ueda had to say. since then, we have seen yen strength. the nikkei selling off pretty hard today, down by about 2.5%. elsewhere, seeing some modest gains in korea, also here in australia. plenty more in a moment. this is bloomberg. ♪ paul: welcome back. china markets just heading to lunch. this -- off by about a bit more than 1%. this follows yesterday,...
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Aug 14, 2024
08/24
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of japan. he was urging them to act to help support the week again. we have also seen the administer in charge of economic securities. she is interested in running. it is unclear at this point which of these people will get the necessary 20 signatures from within the party to enable them to run in the race. avril: as you alluded to earlier, there has been considerable frustration with regards to inflation and where the yen is sitting. who gets the top job, is that going to weigh into what we see in japan's leadership going forward? >> yes, this is a difficult situation for any leader to resolve, i think. kishida has pushed hard for companies to raise salaries, and i larger companies did, but we have also seen that real incomes have continued to fall, and that has very much caused dissatisfaction among the average household, but also among people -- obviously, japan's population is very elderly. among the many people who live on fixed incomes, life has become harder since keisha -- kishida came
of japan. he was urging them to act to help support the week again. we have also seen the administer in charge of economic securities. she is interested in running. it is unclear at this point which of these people will get the necessary 20 signatures from within the party to enable them to run in the race. avril: as you alluded to earlier, there has been considerable frustration with regards to inflation and where the yen is sitting. who gets the top job, is that going to weigh into what we...
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Aug 2, 2024
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we had the bank of japan and federal reserve meeting and the bank of england. want to see how we are faring in terms of some of the moves. looking at sterling-dollar. sterling is trading lower at 1.27. we did see the british pound continuing to fall after that decision from the bank of england to cut rates. more broadly, what we are seeing this morning is also investors looking for safe assets amid these concerns about the outlook for the u.s. economy and what that could mean as well for the global economy. with that in mind, let me show you how asian bourses have traded today. with the nikkei 225, the worst performer out of asia, it ended down almost 6%. when it comes to the asian equity moves, they were on track for the worst day in over two years as well. this, of course, as we saw u.s. treasury yields falling off the back of the concerns that i highlighted to you earlier in the show. i also want to show you how u.s. futures are shaping up at this stage as we approach the session stateside as well. as you can see on your screen, we are looking to a negative
we had the bank of japan and federal reserve meeting and the bank of england. want to see how we are faring in terms of some of the moves. looking at sterling-dollar. sterling is trading lower at 1.27. we did see the british pound continuing to fall after that decision from the bank of england to cut rates. more broadly, what we are seeing this morning is also investors looking for safe assets amid these concerns about the outlook for the u.s. economy and what that could mean as well for the...
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Aug 7, 2024
08/24
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twice in the past quarter of a century bank of japan has tried to normalize and goes to the brink and because the markets had tantrums and i think the market is in better shape and valuations are more stable for them not to panic. paul: so what has happened at the boj? deep breaths used to be the playback. -- playbook. it slow and steady and incremental. then we had a 25 basis point move last week and now these comments from the governor being perhaps unnecessary. as the boj making policy mistakes? they have not taken any policy measures, it's just talk and talk can change. i have followed the governor for a long time and my understanding of his reaction function to underlying [indiscernible] wolf current circumstances in japan do not allow for hawkish statements you see what happens to the market but i think he would be keen to take the economy to a path of normalization that would help the financial sector and wage dynamic and to some degree of positive interest rate would be helpful. not for percent but not zero either. find middle ground. paul: i want to talk about research you ha
twice in the past quarter of a century bank of japan has tried to normalize and goes to the brink and because the markets had tantrums and i think the market is in better shape and valuations are more stable for them not to panic. paul: so what has happened at the boj? deep breaths used to be the playback. -- playbook. it slow and steady and incremental. then we had a 25 basis point move last week and now these comments from the governor being perhaps unnecessary. as the boj making policy...
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Aug 2, 2024
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certainly we saw the bank of japan interest rate decision catch people off guard, raising rates fromme time that we're seeing the federal reserve laying out plans to cut interest rates in september, but markets are very fearful off the back of an ism manufacturing survey yesterday that we saw a collapse in terms of that reading points towards the potential for a recession around the corner, coming at the same time that we see underlying inflation pressures building within the manufacturing sector. but certainly the story around the japanese markets at the moment firmly planted in the reversal that we're seeing in terms of the japanese yen. every time we see earnings season come around, people become very fearful because of the sky—high valuations that we've got attached to tech companies at the moment, and it's been evident over the course of recent weeks when we see the likes of alphabet and microsoft both coming out with strong numbers, yet the companies fall off the back of that news. it feels like they've got a very high bar that needs to be attained for them to be able to outper
certainly we saw the bank of japan interest rate decision catch people off guard, raising rates fromme time that we're seeing the federal reserve laying out plans to cut interest rates in september, but markets are very fearful off the back of an ism manufacturing survey yesterday that we saw a collapse in terms of that reading points towards the potential for a recession around the corner, coming at the same time that we see underlying inflation pressures building within the manufacturing...
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Aug 5, 2024
08/24
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paul: what does this mean for the bank of japan? before all the selling started, they signaled a willingness to tighten further heading into the second half of this year. is that now on hold or does all this blow over before then? simon: they left the door open to hikes but they will be watching the 20% drawdown in the nikkei. they will not be oblivious to that fact and i think they will be very pragmatic and very cautious. that is typically how they have behaved in the past so i don't think they will be in any hurry to hike again, particularly if they are still -- if there is still bleeding and equity market. avril: what about the fed? do you think they will be in a hurry to cut? simon: i think so. people talk a lot about the fed put. some wobbles in the s&p. we are only down 5.7% from the all-time high. i think the fed put is considerably lower than where we are now. we would need to see a 15% pullback in stocks. we could spur the fed into more rapid action if we saw some real wobbles in the credit markets. we did see credit sprea
paul: what does this mean for the bank of japan? before all the selling started, they signaled a willingness to tighten further heading into the second half of this year. is that now on hold or does all this blow over before then? simon: they left the door open to hikes but they will be watching the 20% drawdown in the nikkei. they will not be oblivious to that fact and i think they will be very pragmatic and very cautious. that is typically how they have behaved in the past so i don't think...
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Aug 5, 2024
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this time around, at least there is some dry powder, from the federal reserve and bank of japan. >> neil: well put, thank you. we are following that as the nasdaq market side. home of the premiere technology names. here with some of the scuttlebutt we were hearing today, that some are hoping to see sooner, that the federal reserve isn't inclined to start cutting interest rates as soon as the september meeting but some are thinking even sooner. a cut before meeting that would be very unkushl. want to talk to peter about that. new york stock exchange trading at the new york stock exchange. peter, how did we go from watching inflation federal reserve to watch what you are doing because we are now in a recession federal reserve? how did we do a 180° >> we talked on friday whether they were ka icatastrophing the situation. we had the fed that did not give a lot of clarity on wednesday when that cut was going to be, whether it was september and then friday's economic data can showed a boost in unemployment. that was not goods then a weekend full of fearmongering along the middle east and iran
this time around, at least there is some dry powder, from the federal reserve and bank of japan. >> neil: well put, thank you. we are following that as the nasdaq market side. home of the premiere technology names. here with some of the scuttlebutt we were hearing today, that some are hoping to see sooner, that the federal reserve isn't inclined to start cutting interest rates as soon as the september meeting but some are thinking even sooner. a cut before meeting that would be very...
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Aug 6, 2024
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the first move out of the central bank of japan in more than 17 years does appear to have sparked this risk off event and instability in the asian markets look us up on monday morning to an unpleasant environment in the u.s. a lot of the outlook depends on how much the central bank and the japanese equity market shows stability going forward. if we can have more stable days out of asia, the u.s. market is finding its footing. scarlet: it is a little bit of the tailwagging the dog here to rely on the japanese markets to give us our direction but there are events stateside which could boom markets. which economic data points, which fed speakers could determine price action? gina: i think that -- i do think when you are in an environment when you have had a major risk off event built on central bank policy, the central banks are the most important. you have to watch the boj. you do also have to watch the fed. . there has been a lot of chatter about maybe the fed needs to cut interim meeting. . maybe we need an emergency cut. i think that would exacerbate the existing weaknesses because of
the first move out of the central bank of japan in more than 17 years does appear to have sparked this risk off event and instability in the asian markets look us up on monday morning to an unpleasant environment in the u.s. a lot of the outlook depends on how much the central bank and the japanese equity market shows stability going forward. if we can have more stable days out of asia, the u.s. market is finding its footing. scarlet: it is a little bit of the tailwagging the dog here to rely...
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maria: bank of japan raised interest rates for the second time driving up the yen, the bank of englando lead interest rates unchanged this morning, we will know that at 7:00 a.m. eastern, stay with us for the news former chrysler cherry linen ceo and home chairman cpl and accelerate el-sisi founder and ceo bob nardelli have a great to see you, thank you for being here what you make of the federal reserve leaving rates unchanged, how would you access the macro story right now. chairman pols were predictable and he's taken a cautious view iowa to be political but we can all smile about that. maria: sent his cutting rates in september, the right before the election in october kamala harris my take on it, the comments yesterday we certainly saw balance of the market and the predictions that will be up and he's talking about softening and the inflation rate it is deceptively corrupt. were living through the 9% inflationary rate that we saw and i was predicting ten and i missed it by one point we were still living with 40% wage increases inflated material cost at least i am and whether the p
maria: bank of japan raised interest rates for the second time driving up the yen, the bank of englando lead interest rates unchanged this morning, we will know that at 7:00 a.m. eastern, stay with us for the news former chrysler cherry linen ceo and home chairman cpl and accelerate el-sisi founder and ceo bob nardelli have a great to see you, thank you for being here what you make of the federal reserve leaving rates unchanged, how would you access the macro story right now. chairman pols were...
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Aug 6, 2024
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he did speak to the press after the bank of japan and the finance minister saying they do think thatnsuring smooth movements of the currency markets is important and excessive movement is something they have to avoid and financial stability is paramount for the japanese markets. this smoothness or stability seems to smooth over and see gains in kospi up 4.3%. they actually had the trading again because they saw futures hitting at a very excessive rebound. taiex up 3% in the session. it was a bit softer for the s&p asx. you saw the subdued gains. the hang seng looks a bit touch and go. it is cautious for greater chinese markets because they will await the key trade data for china to see if it points to more slowdown in the economy. overall, the trepidation in the chinese markets. you saw the stocks in the region ending tuesday on a good note. we will see if it carries over to the wednesday session. dan and silvia, good morning. >> thank you, jp. i think the message from the market right now is keep your seatbelts fastened. thank you, jp. >>> let's give you a live look at the u.s. equi
he did speak to the press after the bank of japan and the finance minister saying they do think thatnsuring smooth movements of the currency markets is important and excessive movement is something they have to avoid and financial stability is paramount for the japanese markets. this smoothness or stability seems to smooth over and see gains in kospi up 4.3%. they actually had the trading again because they saw futures hitting at a very excessive rebound. taiex up 3% in the session. it was a...