Equity Derivatives Broker - Delta One Japan, Vantage Capital Markets Japan

François-Xavier Pustoc'h

Equity Derivatives Broker - Delta One Japan

Independent Financial Broker

Vantage Capital Markets Japan

We provide world class financial solutions to our extensive institutional client base including rapidly growing corporations, leading investment banks, commercial banks, asset managers, private equity funds, family offices and hedge funds.

Our services include capital market offerings and placements, wholesale brokerage and execution of cash and derivative products (both listed and OTC) across a range of asset classes.

VCM has offices in London, Hong Kong, Tokyo and Dubai from where we service our global client base. Our strength lies in the experience and quality of our teams, supported by excellent operations and infrastructure.

Macroeconomics

<ul><li>Japanese Equities were up 3.88% last week (vs. M. World +0.81%) driven by Insurance, Banks and Wholesale Trade sectors.</li><li>JPY interest rates and Credit remained stable (ITRAXX Japan 50.81).</li><li>JPY was under pressure this week. USDJPY 149.62 (+1.37), EURJPY 163.62 (+2.22).</li></ul>

Japanese Equities were up 3.88% last week (vs. M. World +0.81%) driven by Insurance, Banks and Wholesale Trade sectors.JPY interest rates and Credit remained stable (ITRAXX Japan 50.81).JPY was under pressure this week. USDJPY 149.62 (+1.37), EURJPY 163.62 (+2.22).

External broker reports(aggregated public sources), Scotiabank

Scotiabank

External broker reports(aggregated public sources)

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

FX & Rates

<ul><li>CFTC data covering the March 11th week reflect the recent trend of fading USD bull sentiment.</li><li>Aggregate Non-Commercial (speculative) USD-bullish positioning dropped for the eighth week on the bounce, with these accounts halving net USD longs to USD4.9bn.</li><li>Recall that peak speculative USD bullishness was reached in mid -January when net USD longs reached USD35bn. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CFTC data covering the March 11th week reflect the recent trend of fading USD bull sentiment.Aggregate Non-Commercial (speculative) USD-bullish positioning dropped for the eighth week on the bounce, with these accounts halving net USD longs to USD4.9bn.Recall that peak speculative USD bullishness was reached in mid -January when net USD longs reached USD35bn. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Weekly CFTC Sentiment Report - Speculative EUR Sentiment Turns Bullish

<ul><li>Broader USD bullish sentiment continues to fade, according to CFTC data for the week through Tuesday March 4th.</li><li>IMM data shows speculative USD-bullish sentiment retreating for a seventh, successive week, with aggregate USD net longs down by two thirds to just under USD10bn over the past month alone.</li><li>This is the lowest bull bet on the USD among Non-Commercial accounts since late October.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Broader USD bullish sentiment continues to fade, according to CFTC data for the week through Tuesday March 4th.IMM data shows speculative USD-bullish sentiment retreating for a seventh, successive week, with aggregate USD net longs down by two thirds to just under USD10bn over the past month alone.This is the lowest bull bet on the USD among Non-Commercial accounts since late October.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Weekly CFTC Sentiment Report - USD Sentiment Fades, Traders Increasingly Bullish on JPY

Equity Derivatives

<ul><li>The Nikkei 225 dividend curve is finally stabilizing after a volatile earnings season.</li><li>Buying pressure on 2025 as Nikkei 225 is selling off.                        </li><li>Nikkei 225 dividend yield is stabilizing at 2.10%.              </li></ul>

The Nikkei 225 dividend curve is finally stabilizing after a volatile earnings season.Buying pressure on 2025 as Nikkei 225 is selling off.                        Nikkei 225 dividend yield is stabilizing at 2.10%.              

Nikkei Dividends Update (Feb 28th – Mar 7th)

<ul>
<li>1M Implied volatility up 0.84 at 28.16 as the Nikkei 225 trades around 36800.</li>
<li>Higher correlation to USDJPY on the downside.       </li>
<li>Increasing interest in downside protection and Mar25/Apr25 gamma roll.</li>
</ul>


1M Implied volatility up 0.84 at 28.16 as the Nikkei 225 trades around 36800.
Higher correlation to USDJPY on the downside.       
Increasing interest in downside protection and Mar25/Apr25 gamma roll.


Nikkei Volatility Update (Feb 28th – Mar 7th)

Japan

The Japanese yen is the official currency of Japan. 

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JPY (USDJPY CURNCY)

Weekly Macroeconomic Report

Japanese Equities were up 3.88% last week (vs. M. World +0.81%) driven by Insurance, Banks and Wholesale Trade sectors. JPY interest rates and...

Vantage Capital Markets Japan

Weekly CFTC Sentiment Report - Speculative EUR Sentiment Turns Bullish

Aggregate Non-Commercial (speculative) USD-bullish positioning dropped for the eighth week on the bounce, with these accounts halving net USD longs...

Scotiabank

Weekly CFTC Sentiment Report - USD Sentiment Fades, Traders Increasingly Bullish on JPY

IMM data shows speculative USD-bullish sentiment retreating for a seventh, successive week, with aggregate USD net longs down by two thirds to just...

Scotiabank

Nikkei Dividends Update (Feb 28th – Mar 7th)

The Nikkei 225 dividend curve is finally stabilizing after a volatile earnings season. Buying pressure on 2025 as Nikkei 225 is selling off. ...

Vantage Capital Markets Japan

Nikkei Volatility Update (Feb 28th – Mar 7th)

1M Implied volatility up 0.84 at 28.16 as the Nikkei 225 trades around 36800. Higher correlation to USDJPY on the downside. Increasing interest in...

Vantage Capital Markets Japan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)