USD/JPY

Global asset managers such as State Street and Legal & General face a potential hit of tens of millions of dollars in money management fees after Japan signaled a goal to channel more state retirement funds into domestic assets. Investors bet that billions of dollars could be shifted into Japanese markets after Finance Minister Satsuki Katayama said on ...

Fed’s Bowman urges global financial watchdog to be flexible. Bowman: Modernizing Financial Regulation Good morning. It is a pleasure to join you this morning. Today, I would like to discuss the work that is currently under way in the Financial Stability Board's Standing Committee on Supervisory and Regulatory Cooperation (or "SRC") on modernizing financial regulation and supervision. Our efforts in the United States have been progressing swiftly over the past year, and most jurisdictions around the world have undertaken similar reviews of their respective regulatory and supervisory financial system frameworks. Nearly a year ago, I assumed the chairmanship of the FSB's SRC. One of the SRC's workstreams under my leadership is the FSB's efforts to establish principles to guide regulatory and supervisory modernization around the world. Today, I will outline these principles, and I will share our approach to applying them in the United States. The Purpose of Modernization and Guiding Principles I will begin by describing modernization in this context. The financial system is constantly evolving, and our regulatory and supervisory framework must keep pace. We must ensure that our framework functions effectively and efficiently, preserves financial stability and bank safety and soundness, and promotes sustainable economic growth. Four principles should guide these efforts. First, we must prioritize material financial risks—these are the risks that can impair an institution's viability and financial stability more broadly. Recent experience illustrates the danger of drifting from this principle. In the United States, we experienced the direct consequences of supervisors losing focus on material financial risks. While we continue to understand the root causes that led to the failure of Silicon Valley Bank, evidence suggests that supervisors failed to sufficiently identify, understand, and act upon the materia

Japan’s 10-year government bond (JGB) yield reversed course and rose on Monday as the market assessed the impact of a potential shift in the Government Pension Investment Fund’s (GPIF) investment strategy. The benchmark 10-year JGB yield rose 3 basis points (bps) to 2.79%, after falling to as low as 2.735% earlier in the session. Yields move inversely to ...

JAPAN CHIEF CABINET SECRETARY KIHARA: GPIF TO TWEAK ITS BASIC PORTFOLIO AS NEEDED

Japan Currently Has No Plan To Change GPIF's Target Asset Allocation, Could Work Within Existing Ranges To Direct More Investment To Domestic Assets – RTRS Cites Sources

Inflation in the euro area has exceeded the ECB's 2% target every year since 2021. That is surprising. In principle, a sufficiently determined central bank can always bring inflation back to target by raising interest rates. Why, then, has the ECB tolerated inflation above target for so long? Could it be that the costs of returning inflation from around 2½% ...

On CNBC Wednesday morning, I predicted that the FOMC minutes would be “much shorter and with fewer details.” Steve Liesman pushed back, arguing that the minutes are a committee document. (So is the FOMC statement, and it still got hacked in half, even deleting “maximum employment.”) In the end, the minutes came in about a fifth shorter, so I was right on ...

59% Approval Rating. Prices coming down along with the lowering of oil and gas. Thank you! President DJT

Japan’s finance minister made waves this week when he called on the massive public pension fund GPIF and other funds to repatriate overseas assets and invest more at home. Japan’s government bond yields fell substantially and the Yen strengthened a bit, so markets definitely see this as something that could help Japan out of its debt trap. I disagree and ...

The Federal Reserve told lawmakers it "will deliver price stability" amid higher inflation in the central bank's semi-annual Monetary Policy Report to Congress, released Friday. The semiannual monetary policy report comes as Fed Chairman Kevin Warsh is set to testify before both houses of Congress next Tuesday and Wednesday — first before the House ...