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Canadian Banks Scale Back Fossil Fuel Funding, but 'Not Declining Nearly Fast Enough': Climate Group
The Bank of Japan cuts the scale of routine debt purchase operations as the yen continues to weaken
The Bank of Japan is seeking to reduce its presence in the bond market. The scale of the proposed purchase of treasury bonds during routine operations on Monday was lower than on April 24. This move may put upward pressure on Japanese treasury bond yields, thereby narrowing the huge spread between Japan and the US, which is unfavorable to the yen exchange rate. After the Bank of Japan announced this news, the yield on the benchmark 10-year Japanese bond immediately rose, and the yen recovered its earlier losses. The yield on 30-year Japanese bonds also hit the highest level of 2.03% since 2011 at the end of the session. The Bank of Japan says it will buy 425 billion yen (2.7 billion US dollars) for a period of 5-10 years
Sector Update: Financial
Financial stocks rose in late Thursday afternoon trading with the NYSE Financial Index adding 0.9% and the Financial Select Sector SPDR Fund (XLF) up 0.3%. The Philadelphia Housing Index climbed 1.8%,
Nomura, Mizuho Face Over $100 Million in Losses on All Blue Capital Failed Trades, Bloomberg Reports
02:08 PM EDT, 05/02/2024 (MT Newswires) -- Nomura, Mizuho Face Over $100 Million in Losses on All Blue Capital Failed Trades, Bloomberg Reports Price: 5.76, Change: +0.19, Percent Change: +3.32
Amazon and AMD Earnings Will Test the AI Hype. Why One Analyst Is 'Nervous.'
Investors will need reassurances from both companies but for very different reasons. when they report after the bell today.
When the Bank of Japan holds a monetary policy meeting, the yen exchange rate approaches the level of possible intervention
Yen traders are preparing for a repeat of the September 2022 scene. At that time, after the Bank of Japan reaffirmed its loose monetary policy, Japan intervened in the market to support the weak yen. Given that the current exchange rate of the yen is much weaker than it was then, and US interest rates are unlikely to fall in the short term, Bank of Japan Governor Kazuo Ueda alone did not make any hawkish remarks until Friday, which may be enough to push the yen to a turning point. According to an analysis of the remarks made by Japan's top foreign exchange official, Finance Officer Masato Kanda, the US dollar to 157.60 yen is a key level worth paying attention to in the Japanese yen exchange rate. Although the yen continues