Reuters Tankan: Japan manufacturers’ index -27 in December versus -28 in November. This is the highest reading since October 2008. However the non-manufacturers’ index has worsened to -39 in Dec from -35 in November. The numbers are compiled by Reuters … Continue reading
Japan: This is slightly better than the expected JPY345 billion. The good news from a Japanese perspective is the increase in exports to China and Asia in general over the past year which have made up for the decrease in … Continue reading
Should not look at prices alone in making policy BOJ not committing itself to future policy steps New operation has had some effect on money market New price definition likely to affect interest rates December tankan in line with BOJ’s … Continue reading
Rates are unchanged at 0.1% and the easy monetary conditions will remain. Some in the market were expecting additional measures but it’s really a watching brief from a central bank not renowned for being proactive. I would tend to think … Continue reading
The BoJ will almost certainly keep rates unchanged at 0.1% but they are likely to expand monetary easing. The market has ignored the meeting up to now with the focus having been on flows and risk aversion. Expect volatility to … Continue reading
Not too much Christmas cheer emanating from the Land of the Rising Sun. Minister Kamei is on the newswires giving budget estimates for coming years. Risk is still off in the FX market with the AUD leading the way lower.
Japan’s index of tertiary activity, rose 0.5% in October. This comes after September’s number was revised down to -0.6% from -0.5%. Year on year, activity fell 4.7% compared to a fall of 5.1% in September. No change in USDJPY.
Japanese FinMin, Hirohisa Fujii has said that the government must the bond issuance below the 44 trillion yen mark, for the fiscal year starting next April, if it is to achieve non-tax revenues of 9.2 trillion yen.
Must secure market confidence to avoid rapid rise in long-term rates Need to accept current JGB issuance levels given severe economic situation Will act with BOJ to beat deflation Japan economy shows signs of recovery but situation remains severe Concerns … Continue reading
BOJ Tankan: December big manufacturers’ index -24. Forecast was for a reading of -27. Big non manufacturers index -22, as expected. Big firms see 2009-10 capex at -13.8%. Big manufacturers see USDJPY averaging 92.93 for financial year 2009-10. Overall a … Continue reading