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Category Archives: Japan
It’s Always About The Treasury Flows
We have looked at the central bank holdings — both the Fed and foreign central banks — of marketable Treasury bills, notes, and bonds over the past twenty years and were quite surprised by our findings. Our analysis may also … Continue reading
Posted in Bonds, China, Interest Rates, Japan, Uncategorized
Tagged Debt, Deficit, Market Debt, TIC, Treasury Flows
1 Comment
Some Background On China Trade Talks
Some perspective from a prior post on President Trump’s predisposition toward free trade. We hope for a good trade deal and China caves on everything. We also hope for the end of poverty, world peace, and everyone to self actualize … Continue reading
Japan’s Contrary Move On Immigration
Japan zigs (liberalizing) while the U.S. and Europe zag (restricting) on immigration. Interestingly Japan recognizes that immigration can move the needle on growth and is moving to finally liberalize its policies. There are three main factors that drive economic … Continue reading
Free Ride Is Over: China & Japan Bailing On Treasuries
We had a request to look at the annual change in foreign holdings of U.S. Treasury securities as an addendum to our post from last night. It’s clear the two largest foreign creditors to the United States government are pulling … Continue reading
Posted in Bonds, Capital Flows, China, Japan, Uncategorized
Tagged China, Foreign creditors, Japan, U.S. Budget Deficits
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No Free Trader In The White House
Yesterday’s NY Times guest Op/Ed confirmed our suspicions about President Trump, Furthermore, we don’t believe President Trump is a free trader at heart but more of a protectionist and neo-mercantilist. There is no “Art of the Deal” – see his … Continue reading
The Meaning of Life Or Life of Meaning
What’s your reason for getting up in the morning? Just trying to answer such a big question might make you want to crawl back into bed. If it does, the Japanese concept of ikigai could help. Originating from a country … Continue reading
Tweet of the Day: Double Yikes!
Unqualified term “war”? Tell us it ain’t so, Ray Dalio! Remember the Great War with Japan started with trade tensions in response to the country’s agression in Manchuria, among other regions, Tokyo and Washington negotiated for months leading up … Continue reading
Japan’s Aging Population And Long-Term Growth
Today’s FOMC minutes release illustrates labor shortages are global in the advanced economies (AE). Contacts in several Districts reported difficulties finding qualified workers, and, in some cases, firms were coping with labor shortages by increasing salaries and benefits in order … Continue reading
Sovereign Risk and Debt Crises
We received some interesting pushback on our recent post, Is the U.S. Government Bankrupt? Not Even Close. The purpose of the post was to remind readers to not ignore the left side of a government’s balance sheet — assets — … Continue reading
Posted in Black Swan Watch, Bonds, Euro, Eurozone Sovereign Spreads, Italy, Japan, Uncategorized
Tagged Debt Crisis, Sovereign Risk
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QOTD: Tokyo’s Real Estate Bubble of the 1980’s
Nice follow-up quote from our last post on federal land holdings and assets. U.S. government praying for a land bubble? Just yanking your Markov chain. At the peak of the real estate bubble in the late 1980s, the 1.32 square … Continue reading
Posted in Japan, Real Estate
Tagged Imperial Palce Land Value, Japan, Real Estate Bubble
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Global Macro Monitor 