Global Markets Podcasts

In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido reviews Japanese lifers first half fiscal year 2022 earnings and connects them to October securities flow data. He also shares his views on spot Dollar/Yen, Yen rate, and Yen basis.

In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido reviews 2022 and gives his outlook for 2023, including changes in JGB issuance. He also shares his views on spot Dollar/Yen, Yen rate, and Yen basis.

In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido discusses the September USTIC and October JSDA, along with MoF investing flows data. He also shares his views on spot Dollar/Yen, Yen rate, and Yen basis.

In today’s episode, MUFG Head of U.S. Macro Strategy George Goncalves discusses the recent price action around the CPI and PPI readings and puts that into context relative to the latest thinking on the Fed. George says we should take the Fed at face value until they decide to signal or officially offer forward guidance on policy objectives. That means that it’s still premature to suggest they are about to pause, and with USTs still sub where the Fed may still end up pushing up rates, George suggests that buying dips and potentially dollar-cost-averaging into fixed income is still the prudent course of action. Meanwhile, George does not think the bond market will take out all of the 2023 rate hikes – at least not between now and year-end – until the Fed gives more forward guidance.

In today’s episode, MUFG Head of Prepayment Modeling and Strategy Glenn Schultz discusses the October remittance data and outlines our views with respect to winter seasonal turnover prepayment, 2023 issuance, and investors’ search for convexity in the agency MBS. He also discusses the use of machine learning to identify unique convexity profiles, and how investors may leverage machine learning to create excess risk adjusted returns in the agency MBS market.

In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido discusses the impact of the MoF’s currency intervention and BoJ monetary operations on the flow of money, as well as what to watch with regards to monetary and fiscal policy. He also shares his views on spot Dollar/Yen, Yen rate, and Yen basis.

In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido dissects H2 FY22 Japanese life insurance company investment plans, discusses the Samurai bond market, and summarizes high points from the BoJ’s October policy meeting. He also shares his views on spot Dollar/Yen, Yen rate, and Yen basis.
 

In today’s episode, MUFG Head of U.S. Macro Strategy George Goncalves discusses how the developments in the bond markets have been more logical lately, especially around key macro events. Whereas risk assets, like the performance of equities, have been more perplexing. George attributes the multiple bounces higher for stocks over the last month as a function of “bearish exhaustion” as investors try to determine if a solid bottom has been put in for 2022. George believes that broader markets are perhaps confusing a potential Fed pause as a pivot, and even then it’s still too early for the Fed to be signaling a transition in policy given how high inflation remains.

In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido updates us on the cross asset flows during the month of September and also previews the October BoJ policy meeting. He also shares his views on spot Dollar/Yen, Yen rate, and Yen basis.

In this episode, MUFG Head of Prepayment Modeling and Strategy Glenn Schultz discusses the October remittance data and outlines our thesis of the ‘Second Golden Age of Mortgage Backed Securities.’ He reviews how the evolution of the coupon stack, borrower and loan characteristic diversity, and the normalization of interest rates converge to bring about the dawn of a second golden age for mortgages.