Japanese Tankan

Final Quarter of 2017 Kicks Off With a Bang

October 2, 2017

Spain’s Catalan region is closer to a declaration of independence after the weekend’s vote, which the national government considered illegal, evoked widespread police violence directed at people trying to vote. Spanish equities tumbled 1.5% in response, and Spain’s ten-year sovereign debt yield leaped ten basis points. The euro was dragged 0.6% lower against the dollar. A […] More

A New Dynamic Emerges: Sterling Weakness is Good for the Ftse and British Economy

October 3, 2016

The view that Brexit is an unqualified bad thing is dead. The June referendum has depressed sterling, but the economy has performed better. An initial drop in consumer sentiment has reversed. Second-quarter GDP growth of 0.7% turned out better than anticipated and stronger than the first-quarter result. Among a slew of manufacturing PMI survey results […] More

Tankan, Manufacturing PMIs, and U.S. Jobless Claims Data Released

October 1, 2015

The dollar traded up 0.4% against the Swiss franc and 0.2% against the euro but has declined by 0.8% versus the Aussie dollar, 0.7% relative to the kiwi, 0.4% vis-a-vis the loonie and 0.1% against the yen and sterling.  The yuan remained unchanged. After a difficult September, Comex gold is unchanged at $1,115.03 per ounce. […] More

Japanese Election, BOJ Tankan, and a Hostage Crisis in Sydney

December 15, 2014

The LDP/Komeito coalition in Japan captured over 68% of the lower house parliamentary seats, enough to override opposition vetoes.  Turnout of 52.4% in the snap election constitutes a record low and was down from 59.3% two years earlier.  Prime Minister Abe had called the election as a confidence vote in his decision to delay a […] More

Activity Blunted by Easter Monday Observances

April 1, 2013

Most European markets remain closed, as well as those in Australia, New Zealand, Hong Kong, Thailand and Canada. The Tankan corporate survey compiled by the Bank of Japan showed somewhat less improvement than anticipated.  The yen is 0.5% higher, and Japanese stocks sank 2.1%.  The 10-year Japanese JGB yield firmed two basis points to 0.57%.  […] More

A Leap in Chinese Equity Prices

December 14, 2012

Friday has seen the release of the Bank of Japan’s Tankan survey and Preliminary PMI readings for China, Euroland, Germany and France. Polls in Japan point to a big win for the Liberal Democratic Party in Sunday’s election. There’s been no breakthrough in the U.S. fiscal cliff talks.  Susan Rice withdrew from consideration for the […] More

Lots of New Data for Markets to Digest

April 2, 2012

China’s two purchasing manager surveys send conflicting signals. Euroland unemployment rises to another record high. Bank of Japan quarterly business survey produces somewhat disappointing results. Mixed array of manufacturing PMI statistics. Euroland finance ministers agreed to an EUR 800 billion (over $1.05 trillion) increased war chest of rescue funds. On this first business day of […] More

Third-Quarter Improvement of Japanese Corporate Sentiment about as Expected

October 2, 2011

10,910 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