Bank of Japan Tankan survey

Quiet Start to an Important Week

December 13, 2021

The dollar firmed o.2% overnight against the euro, Swiss franc and on a weighted basis as measured by the DXY index. The U.S. currency advanced more sharply versus the Canadian, Australian and New Zealand dollars — respectively 0.5%, 0.6% and 0.4% — but has not moved on net relative to Japan’s yen. Equity markets rose […] More

Evidence of Two-Speed Post-Pandemic Recovery and Some Encouraging News on the Inflation Front

July 1, 2021

The first day of July brought a slew of manufacturing purchasing manager surveys. Recovery from the Covid recession is developing faster than than the upswing from the Great Recession, but countries that have been forced to reimpose restrictions on social gathering are seeing their recoveries lag others. Currencies are also becoming more aligned with Covid-management […] More

Risk On Despite Gigantic Hacking Incident

December 14, 2020

Russia again is being accused of an enormous cyber crime centered on Google. Many, many passwords have been compromised. Global Covid cases over the past 3 days (72 hours) totaled just slightly less than 2 million, and the worldwide death count was nearly 30k. There were almost 700k cases and over 6.5k deaths in the […] More

Stocks and Sovereign Debt Yields Up on Better-than-Expected Chinese and British Manufacturing Data

April 1, 2019

This is not an April Fool’s joke. China’s NBS manufacturing purchasing managers index climbed 1.3 points to a 6-month high of 50.5 in March from February’s 3-year low, while the Caixin-compiled Chinese manufacturing PMI reading of 50.8 constituted an 8-month high. Also, the NBS nonmanufacturing PMI rose 0.5 points to a 6-month high as well […] More

Weak Data Intensify Investor Flight from Risky Assets

December 14, 2018

Equities fell 2.0% in Japan, 1.9% in Hong Kong, 1.5% in China, 1.3% in New Zealand and South Korea, 1.1% in Australia and Singapore, and 0.9% in Taiwan. Share prices are also down 1.0% in the U.S. and Switzerland, 0.8% in France, 0.7% in Italy, and 0.6% in Canada and Germany. The flight to safety […] More

Third Quarter Begins with Dramatic Dollar Appreciation and Stock Market Losses

July 2, 2018

The dollar strengthened 1.1% versus the peso and kiwi, 0.8% relative to the yuan and Australian dollar, 0.7% against the euro and sterling, 0.6% vis-a-vis the Swiss franc, 0.4% against the loonie but just 0.1% versus the yen. Share prices slumped 2.5% in China, 2.4% in South Korea, and 2.2% in Japan as well as […] More

Markets Fooled by Succession of Surprises

April 1, 2016

First oil tumbled almost 4% when a top Saudi political official said Saudi participation in a production freeze would be condition on full solidarity of the whole OPEC cartel, including Iran, in the effort.  The pall cast over Asian and European investor sentiment was reflected in share price losses of 3.6% in Japan, 1.6% in […] More

Tankan Survey and Flash Ezone PMI Results above Expectations

December 16, 2013

The dollar this Monday shows overnight declines of 0.4% against the Swiss franc, 0.3% versus the euro and 0.1% relative to the yen and sterling.  The greenback climbed 0.3% against the Australian dollar and 0.1% vis-a-vis the kiwi, and it is unchanged against the loonie and yuan. Share prices mostly fell in the Pacific Rim […] More

Japanese Tankan Corporate Survey Not as Upbeat as Hoped

April 2, 2012

10,894 companies participated in the latest quarterly survey done by Japan’s central bank.  In the table below which documents the evolution of results, abbreviations used in the first four columns of data stand for big manufacturers (Bm), big non-manufacturer (Bnm), small manufacturers (Sm) and small non-manufacturers (Smn).  Where an “a” or no suffix is shown […] More