Japan

Just after I posted today, I ran across two posts from March that I wrote on government and private debt that are related to theme of today's commentary on potential housing bubbles in Germany and Sweden. I am writing here to more tightly…

The Bank of Japan was able to lower Japanese government bond yields after an unexpected spike earlier this year (see post). The 10yr JGB is now yielding around 70bp, corresponding to about minus one percent of real yield.

We update our views on the main big picture drives for financial market: (1) Fed tapering (2) The stabilization of the Chinese economy (3) The cyclical recovery in Europe (4) The increase in Japanese purchases of foreign bonds

Abenomics has been very successful in goosing the Japanese economy thus far. However, the question remains whether this success will be short-lived or durable. I believe it is likely to be short-lived because of the policy constraints that…

I am alarmed at how quickly economic and market volatility has spread throughout the emerging markets. However, I remain positive about the big picture global macro outlook because recent data show that Europe, the US and now China are…

We continue to identify four main macro issues shaping the investment climate: The tapering anticipation in the US; the stabilization of the Chinese economy; a cyclical recovery in Europe; and the long awaited Japanese purchases of foreign…

By Marc Chandler The Reserve Bank of Australia delivered the 25 bp rate cut that was widely expected earlier this week.  Today, the Bank of England provided a new framework for its forward guidance, linking monetary policy to unemployment…

The serious debate has not been about whether or not China’s collapse is imminent. The disagreement was whether or not investment misallocation and the repression of household income growth were fundamental to the Chinese growth model. The…

I spoke at a Euromoney conference on inflation-linked products last year. My thesis at the time that deflation is the real problem and that inflation isn't going to be a concern - which has largely proved right - was out of step with most…

The Eurozone's banks are continuing to deleverage, with total loan balances to euro area residents now at the lowest level in 5 years. What makes the situation even more troubling is that many Eurozone banks banks are repeating the Japanese…