Lack of Term Premium Continues to Cost Japanese Banks with Limited Financial Flexibility
The Bank of Japan has just released its semiannual assessment on the financial system with an explicit focus on the negative interest rate...
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The Holy Grail of Reflation: "from Savings to Investment"
Recent large government privatisations (Japan Post and JR Kyushu) have brought with it a positive tendency, as we pointed out in The Reflationary...
319 Views
Structural Reform II: Political Economy Backdrop
 One of the enduring questions regarding Japan’s “lost decades of growth” remains the degree to which failure to grow owes to insufficient...
334 Views
Japanese Mid-Cap Banks – Multiple Tailwinds
In the Japanese mid-cap banks, we highlight Iyogin Holdings as our top pick, keep Hokuhoku and Hachijuni on te buy list, and add Nishi-Nippon to...
171 Views
BoJ Tapped to Taper
In their policy meeting on September 20-21, the BoJ will be essentially admitting that they can no longer pursue 2% inflation rate target as...
415 Views