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Japan Update

Our market commentary piece uniquely sourced from Japanese language news sources.

Japan Update: Kishida Pushes Supplementary Budget with Eye on Upper House Election

Kishida Pushes Supplementary Budget with Eye on Upper House Election
Defined Benefit Pensions Abandon JGBs
Rolled Coil Inventories Rise for First Time Since August 2019
Power Shortage Cuts Magnesium, Rare Earths Production in China

December 6, 2021

Japan Update: Consumer Confidence Returns to Pre-COVID Level

Consumer Confidence Returns to Pre-COVID Level
Government Will Present 16-Month Budget for FY 2022
ENEOS (5020), Mitsubishi Chemical (4188) Recycle Plastic into “Near Oil”

December 3, 2021

Japan Update: October Unemployment Improves to 2.7%

October Unemployment Improves to 2.7%
October Production Index Up 1.1%
Japan Confirms Second Omicron Infection
Toyota Motor (7203) Labor Unions to Ask for Differentiated Wage Increases
Manufacturers’ Inventories of Automotive Semiconductors Higher

December 1, 2021

Japan Update: Japan Suspends Nonresident Tourist, Business Arrivals

Japan Suspends Nonresident Tourist, Business Arrivals
November Tokyo CPI Rises 0.3%
Steel Company Margins Hit by Inventory Valuation Losses
Recycled Cardboard Inventory Declines 16.6%

November 29, 2021

Japan Update: Do Positive Real Interest Rates Mean a Weaker Yen?

Do Positive Real Interest Rates Mean a Weaker Yen?
Lack of Coordination Between LDP and Government Leads to Confusion
Sony (6758) Stops Taking Orders for Some Digital Cameras as Parts Shortage Lingers
Government Doubles Electric Car Subsidies
Komatsu (6301) Sees Strong Demand for Construction, Mining Equipment

November 22, 2021

Japan Update: Cabinet Approves ¥55.7 Trillion Supplementary Budget

Cabinet Approves ¥55.7 Trillion Supplementary Budget
October Core CPI (ex-Fresh Food) Up 0.1%, Ex-Energy Down 0.7%
FSA, BoJ to Investigate US Dollar Funding by Megabanks
Customer Limits for Bars, Restaurants to be Ended on November 25th

November 19, 2021

Japan Update: Government Seeks to Halt Gasoline Price Increase with Subsidies

Government Seeks to Halt Gasoline Price Increase with Subsidies
Japan’s Real Effective Exchange Rate Nears 50-Year Low
September Machinery Orders Flat, Outlook Higher
Financial Income Tax Hike Will be Considered in 2022

November 17, 2021

Japan Update: July-September GDP Declines 3.0%

July-September GDP Declines 3.0%
Food Service Wages Hit Record as Restaurants, Bars Reopen
Go To Travel to Resume in January, Go To Eat by End April
Inflation Watch: Titanium Dioxide, Plywood

November 15, 2021

Japan Update: October Corporate Price Index Rises 8%

October Corporate Price Index Rises 8%
Voters Think ¥100,000 Government Grant is “Inappropriate”
New Capitalism Plan Will Cost More than ¥40 Trillion
Air Self-Defense Force Practices Air Assault with US Weapons

November 12, 2021

Japan Update: Second Kishida Cabinet Launched–Spend ¥30 Trillion on What?

Second Kishida Cabinet Launched—Spend ¥30 Trillion on What?
Government Aid to Semiconductor Makers Extended
October Machine Tool Orders Rise 81.5%
Casualty Insurance Rates Rise as Natural Disaster Losses Climb

November 10, 2021

Recent Publications

Japan Update: Kishida Pushes Supplementary Budget with Eye on Upper House Election

MI2 China Update: PBOC Cuts Cash RRR, Releasing $188 Billion of Liquidity

Thoughts From The Divide – Taper Talk

Japan Update: Consumer Confidence Returns to Pre-COVID Level

Macro Insiders: In Focus Trade Portfolio

Japan Update: October Unemployment Improves to 2.7%

Blog Posts

Unstoppable force meets immovable object — America’s China policy contradiction

Julian & Raoul: Daily Briefing

MI2 Celebrates Ten Years of Making Calm out of Chaos

From fiscal fairy tale to market nightmare – the story of US exceptionalism and the changing dollar