While we are still not convinced that the euro-zone is the new Japan, despite the many similarities in their economic predicaments, we are increasingly of the view that the 10-year Bund yield will...

There have been three episodes in the past twenty years when the yen has rebounded substantially following a sustained period of depreciation. In each case, the trigger was an increase in financial...

It is tempting to think that a further sharp fall in Japan’s currency would prompt policymakers in the rest of Asia to try to weaken their own in an effort to maintain their competitiveness. But there...

Japan’s drop back into recession will strengthen the disinflationary pressures in the economy and reinforces the divergence in the prospects for monetary policy relative to those in the US. As a...