The surge in the yen against the US dollar has understandably raised expectations of further action to weaken the Japanese currency. We think the Bank of Japan is unlikely to intervene directly in the...

We are pulling down our forecasts for the S&P 500. Nonetheless, our new projections still imply significant gains from the index’s current level. We are not tempted to throw in the towel and project a...

We have revised down our forecasts for the 10-year US Treasury yield. Nonetheless, our new forecasts still imply that the yield will climb significantly from its current level of 1.8%, as the Fed...

We expect the Bank of Japan to reduce its deposit rate much further into negative territory over the course of the next year. (See our Japan Economics service for details.) This reinforces our view...