Investors in Asia close out a choppy week hoping for calm on Friday but wary that U.S. growth fears are bubbling just under the surface and that the U.S...
Investors in Asia close out a choppy week hoping for calm on Friday but wary that U.S. growth fears are bubbling just under the surface and that the U.S. economic and policy landscape next week could be extremely challenging again.
With a stronger currency in their pocket, Japanese investors are hoovering up assets overseas. Figures on Thursday showed that they were net buyers of foreign bonds for a fifth week, and net buyers of foreign stocks for a third week. On the face of it, Fed rate cuts and more BOJ tightening is a recipe for further yen strength. But a lot is already priced into the U.S. curve - over 100 basis points of easing this year and some 225 bps by the end of next year.
The Asian calendar is light on Friday, with South Korean current account figures for August among the few highlights. Seven countries, including Japan, will release their latest FX reserves holdings, which at the last count totaled around $3 trillion.
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