Markets

One of the striking things about the past few decades of Japan’s economic history has been the fact that textbook macroeconomics could have predicted most of it. Back in the late 1990s, this was a controversial point of view. Many...

In May 2014, the Japanese government announced its plan to attract ‘foreign talent’ as part of a campaign to further economic growth. The plan consists of three key points.First is a review of the Technical Intern Training System. This will...

When India began negotiations with ASEAN in 2004 for a free trade agreement (FTA) covering the goods sector, it marked a major step in the evolution of the country’s engagement with the global economy. When India began negotiations with ASEAN...

The dollar retains a firm undertone after yesterday's recovery in the North American session from the week's lows.  For the first time in months, the dollar has lost ground against all the major currencies this week.   The Japanese yen is...

(1) The second round of the Brazilian elections is off to an exciting start(2) The situation in Turkey is becoming tenser as ISIS advances on Kurdish towns in Syria near border(3) The ruble continues to push through all-time highs(4) The...

On 27 September, hundreds of people staged a ‘Return Our Central Provident Fund’ (CPF) protest rally at Hong Lim Park, Singapore. Simultaneously in Hong Kong, the Occupy Central movement, combined with student-led classroom boycotts, morphed into a bigger and broader...

For many years China and the United States have faced off over climate change. Now, climate change action is one of the few things the two powers can agree on. A new view on the benefits of climate action goes...

Weekly MOF data shows that Japanese investors have remained net buyers of foreign bonds in recent months.  After a weak start to the year that saw Japan investors shed nearly $58 bln of foreign bonds in the 16 weeks through...

The genesis of the G20 is a tale of two crises. The first — the Asian financial crisis — led to the creation of the G20 as a meeting of finance ministers and central bank governors from 19 of the...

EM assets are starting the week on the front foot under the favorable constellation of a weaker dollar, stronger stocks and the unexpected result of the presidential elections in Brazil.  In addition, after nearly a month of losses (MSCI EM...

India’s 2014–15 budget doubled the rate of tax on coal from 50 rupees (US$0.82) to 100 rupees (US$1.64) per metric tonne. Though the additional revenue could accelerate the deployment of renewable energy technologies in India, the increase in coal tax...

The main theme in Asia and Europe has been a somewhat heavier dollar tone, against the major and emerging market currencies.  There has not been much of a fundamental driver as perhaps a bit of caution in a stretched-market ahead...

The broad economic conditions have been shaped to a large extent by the different policy responses to the Great Financial Crisis.  For reasons that need not concern us here, the US and UK policy response was relatively stronger than the...

1) USD/HKD traded at its highest level since May 2012.2) Russian officials confirm that capital controls are not on the cards.3) The Turkish central bank started to push bank against currency weakness – albeit slightly.4) Dilma’s chances of re-elections increased...

This seems to be the first time in several months that ECB President Draghi has been rather anti-climactic.   The disappointment or the "sell the rumor buy the fact" scenario we suggested is, in fact, unfolding, and the euro is...