Yen support

Article Abstract:

The Japanese yen may be aided by encouraging economic data, according to HSBC Markets. A cut in income tax announced in Dec 1997 could be reflected in higher consumption in Mar 1998. A reflationary package is also likely, even if economic news is encouraging. The government also wants to support stock prices, and this should help the yen. The government may also seek to support the value of the yen and the belief that such support is likely could lead to less selling pressure on the yen.

Administration of General Economic Programs, Currency Stabilization Programs, Prices and rates, Currency stabilization, Yen (Japan)

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Running out of ideas on Japan... and maybe Europe

Article Abstract:

In Japan the yen was rallying, and 10-year bond yields were increasing, only days ago, but 10-year yields are now down to 1.875% with overnight rights close to zero. Recessionary forces have proved powerful, and in Europe the example of Japan and much of the rest of Asia, should be heeded. Investing in Europe now requires serious hedging from sterling to avoid heavy losses, and many fund managers may not be doing this.

Europe

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