What do fiscal fund and securities flows during the month of February mean for investors looking to navigate Japanese markets in March?: The MUFG Global Markets Podcast

The war in Ukraine rages on and Japan stocks have marked a year-to-date low. USDJPY basis is volatile, amidst mixed trading by Japanese and foreign investors. Downside for USDJPY has been limited even despite the risk-off sentiment in the market reflecting surging oil prices, risk aversion, and fiscal year-end factors, while in contrast all these factors have put a bid into JGBs. Although not obvious, JPY asset price action remains in line with the microstructure of the Tokyo market post-pandemic. 

In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido shares his outlook for JPY cross assets in March and also looks back at fiscal and BoJ monetary operations, as well as securities investing flows in February. He also shares his views on Dollar/Yen, Yen rate, and Yen basis.

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