911±¬ÁÏÍø

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June 18, 2025
 

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Masaki Kondo
Japan¡¯s biggest life insurers collectively lowered bullish yen wagers tied to their foreign investment holdings, a move that suggests they see a lower likelihood of the yen showing the kind of strength it did in the past.
BUSINESS / Markets
May 30, 2025
911±¬ÁÏÍø life insurers cut bullish yen hedges to 14-year low
Nine of Japan¡¯s biggest life insurers collectively lowered bullish yen wagers tied to their foreign investment holdings to 44.4% at the end of March from 45.2% six months earlier.
Yields in Japan¡¯s $7.8 trillion government debt market are now rising rapidly after years of moving at a glacial pace.
BUSINESS / Economy
May 16, 2025
Japan¡¯s steep bond curve divides investors and challenges economy
Yields in the country¡¯s $7.8 trillion government debt market are shifting higher at breakneck speed after years of moving at a glacial pace.
Demand for 911±¬ÁÏÍø debt has risen since March as the Trump administration¡¯s higher tariffs sparked a surge in market volatility.
BUSINESS
Apr 21, 2025
Japan¡¯s superlong bonds draw record foreign inflow on haven bid
Global funds bought a net ?2.18 trillion of the nation¡¯s debt with original maturities of more than 10 years.
Some market participants predict that benchmark 10-year borrowing costs won¡¯t climb as sharply as the fiscal year that ended Monday.
BUSINESS / Markets
Apr 1, 2025
Japan confronts biggest bond loss globally as BOJ rate hikes upend market
The past year marked a sixth straight year of losses for Japan¡¯s sovereign debt as the central bank raises rates while its other counterparts elsewhere are cutting them.
One year on from the Bank of Japan's historic rate hike, the biggest winners are the banks.
BUSINESS / Economy
Mar 17, 2025
Banks boom and shoppers scrimp a year after Japan¡¯s rate pivot
Higher borrowing costs are also fueling a political battle over how the government can rein in its outlays.
911±¬ÁÏÍø nominal wages rose at the fastest pace in nearly three decades according to data out this month, and GDP figures showed Japan¡¯s economy outperformed forecasts.
BUSINESS / Economy
Feb 27, 2025
Yen traders raise focus on 911±¬ÁÏÍø data as economy shifts gears
The news marks a mindset change since the Bank of Japan ended its negative-rates policy last March.
911±¬ÁÏÍø investors are estimated to have increased holdings of Chinese bonds by 53% last year, the most among the markets that make up the World Government Bond Index, according to Bloomberg analysis of 911±¬ÁÏÍø balance-of-payments data.
BUSINESS / Markets
Feb 22, 2025
Tokyo fund buys China bonds for first time on Japanification bet
"Our long-term view is that it¡¯s inevitable for China to follow the path of Japan,¡± said Hikaru Tanaka, fund manager at Asset Management One.
Investment trusts that cater to 911±¬ÁÏÍø individuals bought a net ?10.4 trillion of overseas equities and funds last year after the government expanded the scope of the Nippon Individual Savings Account system.
BUSINESS / Economy
Jan 23, 2025
Japan¡¯s love of foreign stocks risks pushing the yen even lower
Investment trusts that cater to 911±¬ÁÏÍø individuals bought a net ?10.4 trillion of overseas equities and funds last year.
A visitor holds a ?1,000 banknote to offer a prayer on the first business day of the year at the Kanda Myojin shrine in Tokyo on Monday. The yen has declined against the dollar for four straight years amid a wide gap between interest rates in Japan and the United States.
BUSINESS / Markets
Jan 10, 2025
Yen intervention risk creeps higher as U.S. jobs report approaches
The yen is within reach of ?160 per dollar, a breach of which would increase concern about the weak currency¡¯s impact on business and consumers.
BOJ Gov. Kazuo Ueda said in July that the central bank¡¯s holdings would decrease by 7% to 8% in about two years¡¯ time, but they are set to stay at higher-than-desirable levels in the long-term.
BUSINESS / Economy
Dec 23, 2024
911±¬ÁÏÍø bond supply set to reach decade high as BOJ bond purchases slow
The BOJ¡¯s plan to almost halve bond purchases comes as Prime Minister Shigeru Ishiba plans additional spending in an extra budget.
The Bank of Japan regularly sells government bonds with repurchase agreements to boost liquidity.
BUSINESS / Economy
Dec 4, 2024
BOJ sells 10-year cash bonds to ease shortage tied to futures
The BOJ owned ?8.03?trillion of the bonds due in March 2032 as of Nov. 29, down from ?8.23?trillion on Nov. 20.
The yen carry trade is expected to ramp up next year, driven by wide gaps in interest rates, higher government borrowing in the U.S. and low volatility in currency markets, analysts say.
BUSINESS / Markets
Dec 3, 2024
Yen carry trade that rattled markets shows signs of a comeback
911±¬ÁÏÍø retail investors as well as leveraged funds and asset managers outside the country are estimated to have boosted bearish wagers on the yen in November.
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
BUSINESS / Markets
Nov 19, 2024
Two of America¡¯s biggest debt holders are dumping Treasurys
911±¬ÁÏÍø investors sold a record $61.9 billion of the securities in the three months ended Sept. 30.
In the run-up to the Nov. 5 U.S. presidential election, the yen is again the top performer during periods of extreme market stress, analysts say.
BUSINESS / Markets
Oct 29, 2024
Embattled yen still popular haven amid U.S. election uncertainty
Japan¡¯s record ?3.02 trillion current-account surplus, deep yen liquidity and relatively low inflation help make the yen attractive as a store of value.
Three-month basis swaps for dollar-yen dropped to negative 53.5 basis points on Thursday, a level not seen since November 2023.
BUSINESS
Oct 5, 2024
Boom in samurai bond issuance drives up yen swap costs
Three-month basis swaps for dollar-yen dropped to negative 53.5 basis points on Thursday, a level not seen since November 2023.
The Bank of Japan headquarters in Tokyo
BUSINESS / Markets
Sep 11, 2024
BOJ¡¯s bond buying cuts carve out opening for investors
Net purchases by the central bank have fallen below zero as redemptions surpassed buying.
Some investors are warning that a yen rally is fragile, as was on show this week when the yen rapidly retraced an advance after Thursday¡¯s stronger-than-expected U.S. economic growth figures.
BUSINESS / Markets
Jul 27, 2024
¡®Crazy¡¯ yen rally is at risk of shattering as soon as Wednesday
Swaps markets suggest a roughly 45% chance of the Bank of Japan hiking rates by 15 basis points at the conclusion of its July 31 policy meeting.
The yen strengthened Wednesday to break the psychological threshold of ?155 against the dollar, with technical indicators suggesting the momentum can continue.
BUSINESS / Markets
Jul 24, 2024
Yen extends advance as unwinding of global carry trades ramps up
Investors are betting on more rate hikes in Japan and the chance of further intervention by authorities to prop up the 911±¬ÁÏÍø currency.
Leveraged funds reduced net short positions on the yen the most since March 2011 during the week to July 16.
BUSINESS / Markets
Jul 22, 2024
Hedge funds slash short yen bets by most in more than a decade
Hedge funds pared bets against the yen in spectacular fashion after a suspected double-whammy market intervention from 911±¬ÁÏÍø authorities.
The Bank of Japan headquarters in Tokyo. Many analysts say the central bank would want to avoid rushing policy moves as policymakers probably don¡¯t want to be seen as being forced to act to boost the currency.
BUSINESS / Markets
Jul 12, 2024
Yen jump eases pressure on BOJ to tighten its policy, analysts say
If the Bank of Japan raised interest rates and announced fewer bond purchases, it could risk being seen as only driven by the volatile yen.
Japan suspects Chinese aircraft carriers conducted drills against U.S.
Chinese aircraft carrier, the Liaoning. It crossed what is known as the second island chain, which links the Ogasawara Islands and the U.S. territory of Guam, on June 7.
G7 backs Israel¡¯s ¡®right to defend itself¡¯ as Trump hastily leaves summit
U.S. President Donald Trump walks to have a family photo taken at the Group of Seven leaders' summit in Kananaskis, Alberta, Canada, on Monday.
Nippon Steel may have gotten the deal it wanted all along
Nippon Steel is buying United States Steel in a deal that gives the U.S. government a golden share in the U.S. steelmaker.
Japan sweats under extreme heat despite ongoing rainy season
People walk under the scorching sun in Tokyo's Omotesando area on Tuesday as temperatures rise above 35 degrees Celsius in much of eastern Japan.
No breakthrough on tariffs at Ishiba-Trump meeting in Canada
U.S. President Donald Trump (left) speaks with Prime Minister Shigeru Ishiba at the Group of Seven summit in Kananaskis, Alberta, Canada, on Monday.
Nippon Steel may have gotten the deal it wanted all along
Nippon Steel is buying United States Steel in a deal that gives the U.S. government a golden share in the U.S. steelmaker.
Tokyo moves to restore open skies over historic Nihonbashi bridge
Nihonbashi bridge, long overshadowed ¡ª literally ¡ª by an elevated expressway, is at the center of a multidecade project to relocate the highway underground in hopes of restoring the scenery around the historically significant bridge.
The underlying risks to Japan¡¯s undersea cables
A screenshot of a submarine cable map on TeleGeography¡¯s website shows a network of cables connecting with Japan.
Japan and the U.S. face challenges in economic security discussions
Rare earths from Australia's Mount Weld mine. 911±¬ÁÏÍø companies have a supply agreement with a company that sources rare earths from the mine.
Decokatsu could save you money and help the planet. But you probably haven't heard of it.
Eating locally grown food could be part of a decokatsu lifestyle that's both good for the planet and your wallet.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo¡¯s Shinjuku Ward.
Kabukicho: Tokyo¡¯s ¡®stadium of desire¡¯

Longform

The classic red brick arches of Tokyo¡¯s first ¡°g¨¡do-shita,¡± built in 1910, are what most 911±¬ÁÏÍø people think of when they think about commercial spaces under elevated railways.
Revitalizing the space under Tokyo¡¯s train tracks
By Alex K.T. Martin

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