Word: exchangees
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The kind of appreciation the yen is experiencing now isn't necessarily a bad thing, says Takashi Omori, chief economist for Japan at UBS. He points to the fact that about 80% of Japanese imports are contracted on foreign currency and this would allow for savings on import costs with...
Economists are quick to point out that a weak dollar doesn't necessarily mean a strong yen. The exchange rate of the yen to other currencies - such as the euro - still shows depreciation. But the dollar-yen pair heavily weights consumer sentiment and the stock market, says Takahide Kiuchi, chief...
Meanwhile, Japanese consumers are faced with a mixed bag. The slight appreciation of the currency helps in capping the rising cost of food and fuel, which have both become concerns due to price inflation. But because dollar-based profits from overseas will drop, corporations could cut back on capital investment...
Others aren't that patient. "We need drastic measures to solve these problems," says Yamamoto of Royal Bank of Scotland. "Intervention may work to buy time, but it's not a fundamental solution. The authorities in Japan know this and they're hesitant to act." Finance Minister Fukushiro Nukaga did...
The practice of giving letter grades to bonds to reflect their riskiness was pioneered by John Moody in 1909. But the industry took its current form only in the early 1970s. That's when Moody's and its competitors switched from selling research to investors to charging bond issuers to...