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22 May 2014
Japan making improvements - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted recent developments from Japan.
Key Quotes
"There are continued reports of changes in the investment strategy of Japanese real money accounts. Overnight, Japan Post Insurance Co., (with $846 bln AUM) is said to have plans to increase investment in domestic stocks by as much as $3.4 bln this fiscal year and to boost overseas bond holdings by the equivalent of $6.4 bln."
"The news helped the Nikkei gain 2.1% and move further from the key 14,000 support level. Lastly, Japan May flash manufacturing PMI improved to 49.9 from 49.4 in April, but it is still the second straight month below 50."
Key Quotes
"There are continued reports of changes in the investment strategy of Japanese real money accounts. Overnight, Japan Post Insurance Co., (with $846 bln AUM) is said to have plans to increase investment in domestic stocks by as much as $3.4 bln this fiscal year and to boost overseas bond holdings by the equivalent of $6.4 bln."
"The news helped the Nikkei gain 2.1% and move further from the key 14,000 support level. Lastly, Japan May flash manufacturing PMI improved to 49.9 from 49.4 in April, but it is still the second straight month below 50."