Japanese risk assets—equities and real estate—are in a multi-year bull market, in our view. We are bullish on Japan because we believe the fundamental allocation of national assets—capital, land and labor—is beginning to change.
The yen is poised to remain a structurally weak currency. In coming weeks, yen volatility is expected to rise as short-term market players position for potential changes in central bank policy. Here we maintain our call for added ease from the Bank of Japan to be in place by the end of the November 18–19 policy board meeting.
Last week I spoke with Jeff Weniger, Investment Strategist and Portfolio Manager at BMO Global Asset Management, on his views regarding the Federal Reserve and investing in the global marketplace—with a particular focus on Europe, Japan and Korea.
Last week I chatted with Jesper Koll, CEO of WisdomTree Japan, who has spent over 30 years in Japan leading investment strategy at various firms. The discussion was particularly timely following his appearance at the Japan Finance Forum hosted by Bloomberg on September 29.