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...“The financing gap is staggering, it’s trillions, but you don’t hear about trillions coming into the continent, it’s just trickling in,” Hassatou Diop N’Sele, vice-president of the African Development Bank...
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...The yield on 10-year JGBs fell to as low as 0.725 per cent. Inflation, which was sparked by a rise in imported energy and food prices, is past its peak....
...To some investors and analysts, the Bank of Japan’s ‘yield curve control’ has been like a Sword of Damocles hanging over the global bond market. When it finally fell it would cause a bloody mess....
...to buy JGBs to limit the impact on financial markets....
...The Bank of Japan carried out a series of unscheduled purchases of Japanese government bonds on Wednesday as yields on the benchmark 10-year instrument hit their highest in a decade....
...SELL: N Brown (BWNG) The online retailer is losing customers in what appears to be a continuing trend, writes Christopher Akers....
...The yield on the 10-year Japanese government bond rose close to 1 per cent on Tuesday, its highest level in more than a decade, as investors bet the Bank of Japan would further relax its controls on the...
...In a statement, the BoJ said the 1 per cent control cap on 10-year JGB yields would be regarded as “a reference”, noting that strictly capping long-term interest rates could entail “large side effects”....
...Japan’s central bank made unscheduled purchases of government debt on Wednesday as yields on benchmark bonds hit their highest mark in a decade, while a global market sell-off also continued to drive US...
...The Bank of Japan has taken a significant step to end its seven-year policy of capping long-term interest rates after a sharp rise in US bond yields, setting the stage for a gradual unwinding of massive...
...The shift offers a neat parallel to what the Bank of Japan is trying to do to adjust its bold experiment in monetary policy....
...But seven years ago the BoJ went further, setting a hard limit on 10-year Japanese government bond (JGB) yields....
...UBS now expects the bank to widen the band further on Tuesday, to 1.5 per cent from 1 per cent, and expects the 10-year JGB target yield of zero to be raised to about 0.5 per cent....
...If you are Japanese, what is the point of buying a 5-year JGB with a nominal yield of 50bps when you can buy a 5-year US treasury with a real yield of 3%?...
...In some regions, risk adjusted performance has become more challenged, but overall, the model shows continued efficacy in outperforming a benchmark 1/N style allocation strategy.” Exciting stuff....
...and the JGB market....
...The Bank of Japan is now solidly on the path to retiring yield curve control, which is either a disaster or not really a big deal, depending on who you ask....
...Aside from Norway finally getting its act together to smash a way through to the next round of the World Cup, last week’s big event was obviously the Bank of Japan deciding to fiddle around with its yield...
...Other estimates might put yields a bit higher or a bit lower, but what they all have in common is that they’re not too far from the 0.85 per cent rate 10-year JGBs are trading at now....
...The yield on 10-year Japanese government bonds has risen to its highest level in a decade ahead of the Bank of Japan’s policy board decision amid more hawkish signals from the US Federal Reserve....
...While Zambia remains in default, the central bank has been battling depreciation of the kwacha against the dollar and a revival of inflation....
...for the central bank,” UBS economist Masamichi Adachi wrote in a recent note....
...For Niall Olden, managing partner at Kernel Capital, which runs the Bank of Ireland Kernel Capital Growth Funds (NI), the “big gap is private sector institutional money” in the region....
...Elsewhere on Tuesday… — He was a quant at Citadel....
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