Luke Waddington
Luke Waddington
cash effect looking rates rising spare yield
As long as U.S. rates are rising you've got this double-whammy effect of spare cash looking for yield and yield is there,
caution move
If you try to put a macro story with (Wednesday's) moves, it would be caution about how the BOJ is going to move and when they're going to move.
election looking note point reform strengthen
It's also important to note that the point of the election was to strengthen Koizumi's reform mandate, so we'll be looking how he delivers on this front.
caution move
If you try to put a macro story with moves, it would be caution about how the BOJ is going to move and when they're going to move.
cuts market rates saying surprise terms
The market is saying what we're not going to get is a surprise in terms of rates -- we're not going to get some cuts because of storm-damage problems.
banks buy chinese good return shares
Chinese banks may want to buy yen and see if they can get a good return on shares in Japan.
unless
I think it's discounted, unless they do something and do something decisive.
buying dollar investors japanese overseas purchase
Japanese investors are buying the dollar to purchase overseas assets, such as Treasuries.
continue guessing impact second situation sort until
This sort of second guessing (in the market) will continue until we actually see what the real impact of the situation is going to be on the U.S.
bigger breaks dollar leg sort until
Until the dollar breaks through some sort of bigger levels...I don't think we're going to get another leg up.
hearing lots people react timing tokyo
We're hearing it may be 6 p.m. Tokyo before an announcement comes out, and that's making people think it's a story to react to tomorrow. The timing of it is important because we're hearing lots of rumors.