In U.S. bank Wells Fargo’s January-March (first quarter) results, net interest income (NII) was lower than market expectations. Loan growth was weak and pressure to raise deposit rates increased, canceling out the benefits of higher interest rates. According to the announcement on the 12th, NII for the January-March period decreased 8.3% from the same period … Read more
Japan’s long-term interest rates have risen to over 0.8% since November last year. Bond selling has become predominant as expectations for further interest rate hikes by the Bank of Japan are increasing and long-term interest rates in the United States have risen sharply due to upward swings in the Consumer Price Index (CPI). The yield … Read more
Takehiko Nakao, former finance minister and chairman of Mizuho Research & Technologies, said that the current depreciation of the yen has clearly gone too far, and acknowledged that the government could intervene at any time. We believe that intervention is an effective way to correct the yen’s depreciation. In an interview on the 10th, Mr. … Read more
US President Biden and Prime Minister Fumio Kishida plan to establish a consultative body on defense industrial cooperation to strengthen the Japan-US alliance in the defense field, allowing for more repair of US Navy ships in Japan. This was announced by a senior Biden administration official. The official explained that defense will be at the … Read more
TOWA, which has unique technology for equipment used in the resin encapsulation process of semiconductor manufacturing, is gaining ground in the industry thanks to the tailwind of the generative AI (artificial intelligence) boom. A next-generation machine focused on improving productivity is also under development. In an interview with Bloomberg on March 26, President Hirokazu Okada … Read more
U.S. payrolls increased by the most in nearly a year in March, and the unemployment rate fell. It showed that a strong labor market is boosting the economy. US employment rose by 303,000 in March, the largest increase in a year – unemployment rate falling (1) The views of market participants regarding the statistics are … Read more
On the 4th, the yen exchange rate in the Tokyo foreign exchange market was in the high 151 yen range to the dollar, remaining almost unchanged from the evening of the previous day. Overseas time on the 3rd, the price approached the psychological milestone of 152 yen due to the increase in employment in the … Read more
The number of U.S. job openings in February was almost unchanged from the previous month. This suggests that demand for labor is stabilizing at a high level. Key Point The number of U.S. job openings increased slightly to 8.756 million in February. The median forecast by economists is 8.73 million. The previous month was revised … Read more
Akihiro Fukudome, the new chairman of the Japanese Bankers Association (President of Sumitomo Mitsui Banking Corporation), believes that the Bank of Japan’s monetary policy will remain accommodative for some time. Furthermore, the government predicted that the policy interest rate would only be raised by 0.25% over the next year. Mr. Fukudome, who assumed the position … Read more
History tells us that the first phase of monetary tightening by the Bank of Japan marks the end of the rise in bank stocks. The Wall Street adage “buy on rumors, sell on facts” seems to apply. Since the Bank of Japan slightly revised its yield curve control (YCC) policy contrary to market expectations in … Read more