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Bloomberg Surveillance

Surveillance: BOJ Jolt with BNY Mellon's Yu

Bloomberg Surveillance

Bloomberg

News, Business News, Business

41.1K Ratings

🗓️ 28 July 2023

⏱️ 40 minutes

🧾️ Download transcript

Summary

Geoff Yu, BNY Mellon Sr. Market Strategist, says "everything is on the table" for the BOJ after they announced a surprise loosening of yield curve controls. Jonathan Pingle, UBS Chief US Economist, says the US is still a long way from price stability. Jane Foley, Rabobank Head of FX Strategy, says the BOJ's surprise yield curve actions were to "take themselves away from being pushed into a corner by market conditions." Steve Chiavarone, Federated Hermes Head of Multi-Asset Solutions, sees core CPI at 3.9% this year. Jay Pelosky, TPW Advisory Principal & Founder, says "we're at the end of the rate hiking cycle in the west."


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Transcript

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0:00.0

What do you see on the horizon? Uncertainty or opportunity?

0:05.0

Whatever you see at PGM, we can help you rise to the challenges of today

0:10.0

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0:14.0

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0:18.0

in pursuit of long-term returns.

0:21.0

Our investments shape tomorrow today.

0:24.0

Pissue your tomorrow with PGM, a leading global asset manager.

0:30.0

I'm Akshatrati and this summer on my podcast Zero.

0:33.0

I'm doing a series about climate storytelling,

0:36.0

how we talk about climate change and what it means for how we confront it.

0:41.0

This week, I'm interviewing journalist Amy Westowelt

0:44.0

about reporting on the history of climate denialism.

0:47.0

I'm a big believer in the idea that you can't effectively solve a problem

0:52.0

if you don't really know where it came from.

0:55.0

Come to Zero on the iHeart Radio app or wherever you get your podcasts.

1:26.0

Join us now, Jeff Yu, senior market strategist at BNY Mellon.

1:30.0

Click off the programme with us, Jeff, great to have you with us.

1:33.0

Your reaction, I guess, first of all to what we saw from the B.O.J.

1:36.0

What is the new line in the sand for a Japanese 10-year government bond yield?

1:40.0

If you look at that slide, the B.O.J. announced,

1:44.0

there's this hazy part between 0.5 and 1%.

1:49.0

I think that's the B.O.J. telling you there is no actual line in the sand.

...

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