-
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 AccessREPEAT: MNI 5 THINGS: BOJ Sep Tankan: Senti Down, Capex Solid
Repeats Story Initially Transmitted at 00:27 GMT Oct 1/20:27 EST Sep 30
--BOJ Sept Diffusion Index For Major Manufacturers +19 vs +21 In June
TOKYO (MNI) - The Bank of Japan's quarterly Tankan business survey for
September, released Monday, showed business sentiment lower for the third
straight quarter, hit by increasing concerns over the global economy and rising
raw material costs.
Looking ahead, sentiment among major companies is expected to be flat three
months ahead, although many sectors are expected to fall further on jitters over
protectionist U.S. trade policies. Labor shortages in Japan are also pushing up
costs, adding to supply constraints.
On the plus side, business investment plans remain solid for fiscal 2018 as
many firms are seeking to ease production capacity constraints and firms are
absorbing high costs through increased productivity.
The average dollar/yen exchange rate assumed by major manufacturers for
fiscal 2018 (beginning Apr 1) was Y107.40, compared with Y107.26 seen in the
June survey.
The diffusion index is calculated by subtracting the percentage of
companies reporting deteriorating business conditions from the percentage of
those reporting an improvement. A positive figure indicates the majority of
firms see better business conditions.
The key points from the survey:
* The diffusion index for sentiment among major manufacturers posted the
3rd straight quarter-on-quarter drop, falling to +19 in September from +21 in
June, hit by higher energy and raw material costs as well as concerns over
global demand. The index was slightly weaker than the MNI survey median forecast
of +21. The index is projected to be unchanged at +19 in December.
* The sentiment index for major non-manufacturers marked the first drop in
two quarters, falling to +22 in June from +24 in June, in light of sluggish
domestic demand. It was in line with the MNI survey median forecast for +22. The
index is projected unchanged at +22 three months ahead.
* The September sentiment index for smaller manufactures was unchanged from
June at +14 (the MNI survey median forecast was +13). The index is expected to
slip to +11 in December. The sentiment index for smaller non-manufacturers stood
at +10 in September, up from +8 in June. The index is projected to slump to +5
in the next poll.
* Business investment plans by major firms, the key to a pickup in domestic
demand, are projected to rise 13.4% on year in the current fiscal year, slightly
revised down from +13.6% seen in the June survey and below the MNI survey median
economist forecast for a 14.2% rise. Capex plans by smaller firms are expected
to fall 8.4% in fiscal 2018, revised up from -11.8% in June and weaker than the
MNI survey median forecast of -5.4%.
* The levels of capital investment plans by both large and smaller firms in
the current fiscal year are close to their historical averages.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
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.