2025 Will Be the Year of Memory, Not GPUs

To state the obvious, the AI story has been the key driver of the US stock market since the thematic was crystalized by the announcement of the Microsoft invest... Read More»

The Underestimated Risk of Deflation in America

If Federal Reserve Chairman Jerome Powell signaled the commencement of monetary easing in his 23 August speech at Jackson Hole, more interesting to this writer ... Read More»

Is More Carry Trade Volatility In Store for Markets?

Financial markets found out about the potential for a yen carry trade unwind last month as reflected in the roller coaster market action in Tokyo. The Topix ... Read More»

When Will Local Buying Drive Japanese Stocks to New Highs?

The pressure on Bank of Japan Governor Kazuo Ueda continues to rise, in terms of accelerating the long overdue normalisation of monetary policy. Service sect... Read More»

Is Japan’s Stock Party Over, or Is the Best Yet to Come?

“Government may declare official end of deflation”. This was a frontpage headline in the Japan Times last quarter. This, and the Nikkei breaking the 40,00... Read More»

What Do Japanese Stocks and US Small Business Have in Common?

This writer’s main candidates for the areas to blow up if there is a recession in the US as a consequence of monetary tightening remain private equity and priva... Read More»

If the Japanese Bond Yield Hits 1%, it Could Shake the US Treasury Market

The key issue for world markets remains when monetary tightening is going to bite in the US economy. If the downturn in M2 growth in the recent past remains ... Read More»

How the Fed Reacts to a Vaccine Driven Recovery Will Determine the Market’s Fate

As the media focuses on the closely contested US presidential race, as well as, of course, the Covid “second wave”, investors should also be thinking about the ... Read More»

The Japanese Market is Geared For the V-Shape Recovery

Foreign Investors Still Exiting Japan Despite Cyclical Tailwinds Foreign investors continued to be net sellers of Japanese stocks last quarter despite the rall... Read More»