-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessGoldman Sachs Mark USD/JPY Outlook Higher
Goldman Sachs note that “the Yen depreciated sharply in the first two trading days of 2022, reaching its weakest level vs USD since early ‘17. We think risks to USD/JPY remain skewed to the upside, and are therefore revising our 3-month target to Y117 from Y115 previously (our new 3-, 6, and 12-month forecasts are Y117, Y117, and Y115, respectively, from Y115, Y113, and Y111 previously).”
- “While U.S. rates have already repriced significantly - now discounting about 3.25 funds rate increases this year - we could see additional upward pressure on the U.S. yield curve if the FOMC hikes at the March meeting, as our economists expect (a March hike is currently priced at an 85% probability). Moreover, like other Asian economies, Japan faces risks from another covid wave in the coming weeks: estimates from our global economics team show that only a very small portion of the Japanese population has “high” effective immunity from COVID (only Taiwan is lower among economies in our coverage).”
- “Investors have recently debated whether Japanese policymakers might step in to stem weakness in the JPY, now that the currency has reached levels on a trade-weighted basis that triggered similar policy guidance in the past. We see this type of action as relatively unlikely at the moment, given weak activity levels in the Japanese economy, risks from an omicron wave, and possible benefits from FX depreciation on domestic inflation and inflation expectations. U.S. policymakers also seem less likely to complain about JPY weakness, given the desire to reduce domestic inflation. Our current working assumption is that the odds of Yen-related policy guidance will increase as USD/JPY approaches Y120.”
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.