Japanese insurance company Taiyo Life talking to Reuters20 Oct
- has increased unhedged foreign bond exposure
- increased Japanese stock investments in H1, will keep stock holdings steady in H2
- will increase foreign debt in H2 due to low yields
- will slightly reduce Japan bond holdings in H2
- geopolitics a risk but bot seen leading to global recession
- sees USDJPY at 120.00 by end-March, US 10-year yield 2.8%
USDJPY currently 113.20 after the US tax-led Asian spike to 113.31 from 112.80 . Sell interest being chewed through up here but still capping for the moment.