What does Japanese and foreign investor selling of overseas investments in March mean for April?: The MUFG Global Markets Podcast

JPY has weakened thus far in FY22. JPY rates have remained high even under the watchful eye of the Bank of Japan and its YCC operations. The Nikkei Average has moved little. U.S. Fed officials have issued comments on rate hikes and quantitative tightening, but the BoJ leadership has not made any changes to monetary policy in response. The stances of U.S. and Japanese monetary policy officials are in stark contrast for now  ahead of the U.S. November mid-term elections and the Japanese July Upper House elections.  

In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido dissects March securities investing flows, the balance between the MoF’s FY22 JGB issuance plans and the BoJ’s JGB buying plans, and the BoJ’s yield control tools. He also shares his views across Dollar/Yen, Yen rate, and Yen basis markets.

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