Where's it going?
Article Abstract:
Japanese investors are repatriating funds, and a strengthening of this trend could affect United Kingdom government securities (gilts) and US Treasuries, argues NatWest Markets. The US Federal Reserve is likely to increase interest rates after the start of Jan 1998. The UK economy is unlikely to see slower growth prior to Christmas 1997. The difference between yields for UK government securities and German Bunds could widen. Fiscal reflation is likely in Japan and the market for Japanese government bonds has rallied in 1997.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Japan: pumping away
Article Abstract:
The Bank of Japan (BoJ) is to carry on with a loose monetary policy, although the economy appears to be recovering. Industrial output rose by 3.3% in 1995. The stock market should benefit from low interest rates. The official discount rate has been set at 0.5% from Sep 1995, and overnight rates are less than this since the BoJ is feeding funds to money markets. The banking system is able to recapitalise itself from the difference between bond yields and rates on the money market.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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