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June 16, 2026
 

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John Cheng
What is known as the yen carry trade, which involves borrowing in the relatively low-yielding Japanese currency and investing in other currencies offering higher returns, is thriving again.
BUSINESS / Markets
Jun 15, 2026
Yen short bets jump to nine-year high as carry trade revives
Leveraged funds increased their bearish positions on the yen to over 115,000 contracts in the week through June 9, the highest level since November 2017, data has shown.
The most up-to-date data for April shows that overseas investors sold more superlong Japanese debt than they bought for the first time since 2024.
BUSINESS / Economy
Jun 15, 2026
Global funds pull back from long-dated JGBs amid concern of pressure on BOJ
Data for April shows that overseas investors sold more superlong Japanese debt than they bought for the first time since 2024.
The Marunouchi business district of Tokyo. Upward pressure on Japanese government bond yields is building as oil prices remain high.
BUSINESS / Markets
May 13, 2026
Japan¡¯s 20-year bond yield rises to 1997 high on inflation woes
Upward pressure on Japanese government bond yields is building as oil prices remain elevated after the U.S. and Iran rejected each other¡¯s proposals to end the conflict.
While refraining from confirming intervention to support the yen, Japan¡¯s top currency official said authorities are prepared to respond on all fronts to speculative moves.
BUSINESS / Markets
May 11, 2026
Yen bears retreat as intervention seen capping currency weakness
The pullback followed multiple rounds of intervention by Japanese authorities starting April 30 and through the Golden Week holiday.
An oil tanker docked at an oil refinery in Yokohama. Japan is feeling the pain of the war in Iran acutely as it imports more than 90% of its crude oil from the Middle East.
BUSINESS / Economy
Mar 27, 2026
Investors game out stagflation risk in Japan as oil prices rise
Global funds including Allianz Global Investors and Amundi are already hedging against stagflation with the Iran conflict nearing the one-month mark.
Despite fears higher oil prices and inflation would hurt the market, Japan¡¯s 20-year bond auction was well-received on Tuesday due to the appeal of higher yields.
BUSINESS / Markets
Mar 17, 2026
Relief as Japan¡¯s 20-year bond sale draws strong demand despite Gulf crisis
Higher yields attracted buyers, easing concerns that rising oil prices and inflation risks would damp appetite.
The yen dropped as much as 0.5% to 155.51 against the dollar on Monday.
BUSINESS / Markets
Feb 2, 2026
Yen drops after Takaichi comment cools intervention speculation
The currency dropped as much as 0.5% to 155.51 against the dollar on Monday.
U.S. Treasury Secretary Scott Bessent said the U.S. is ¡°absolutely not¡± intervening in the dollar-yen market.
BUSINESS / Markets
Jan 29, 2026
Traders highlight risks for Japan going solo on yen intervention
Hopes were dented after Bessent said on Wednesday the U.S. is ¡°absolutely not¡± intervening in the dollar-yen market.
Japan¡¯s retail investors continue to have a good appetite for foreign assets, despite the rally in Japanese equities last year.
BUSINESS / Markets
Jan 5, 2026
Japan retail investors ignore domestic bull market to opt for U.S.
Individuals unloaded a net $24.3 billion of Japanese stocks and related investment trusts through November, the most in more than a decade.
Japan¡¯s two-year note yield, which is sensitive to monetary policy expectations, rose to its highest level since 2008.
BUSINESS / Markets
Dec 1, 2025
Japan¡¯s two-year yield hits highest since 2008 on rate-hike bets
The swap market is now pricing in about a 76% chance of a rate hike when the central bank delivers its next policy decision on Dec. 19.
Prime Minister Sanae Takaichi. Investors are worried that Japan may be spending beyond its means.
BUSINESS / Markets
Nov 22, 2025
Takaichi faces market tests from yen to stocks and bonds
Markets have lost their enthusiasm for Japan¡¯s new prime minister, with about $127 billion wiped off the value of Tokyo-listed stocks over the past week.
The yen has fallen about 4.5% against the dollar so far this quarter, the most among its Group of 10 peers.
BUSINESS / Economy
Nov 13, 2025
Japan¡¯s slumping currency intensifies debate over intervention
As the yen slumps toward levels that previously drew authorities into the market, traders are increasingly skeptical that direct intervention will work this time.
The yen-dollar exchange rate is displayed outside a securities firm in Tokyo on Oct. 27. The yen slid about 4% against the dollar in October.
BUSINESS / Economy
Nov 4, 2025
Goldman and BofA see no immediate intervention risk as yen nears 155
The yen weakened further after BOJ held rates steady last week, with little guidance offered on future hikes.
For decades, investors have turned to the yen during market shocks, but that instinct is now under strain.
BUSINESS / Markets
Oct 9, 2025
Yen¡¯s haven status undercut by gold surge and BOJ rate-hike doubts
For decades, investors have turned to the yen during market shocks, from financial crises to geopolitical blowups.
A screen displays Japan's 10-year government bonds and the rate of the yen against the dollar outside a securities firm in Tokyo on Monday.
BUSINESS / Markets
Oct 6, 2025
Goldman sees Japan bond ¡®shocks¡¯ spilling over to Treasurys
Global bonds feel the ripple from Tokyo as investors react to Sanae Takaichi¡¯s election win and looming fiscal stimulus.
Hedge funds have been piling into Chinese equities at the fastest pace in months as bullishness on the DeepSeek-driven technology rally adds to hopes for more economic stimulus.
BUSINESS / Markets
Feb 16, 2025
DeepSeek drives $1.3 trillion China stock rally as funds pile in
DeepSeek¡¯s breakthrough in artificial intelligence is helping drive a rotation of stock funds back into China from India.
A drum sits inside the Korea Exchange in Seoul on June 13. South Korea is extending a ban on stock short selling through March 30 next year and planning harsher penalties for illegal trades.
BUSINESS / Markets
Jun 30, 2024
High-speed traders and short sellers face growing Asia crackdown
Recent developments show the difficulty of keeping up with increasingly sophisticated trading strategies and their market impact ¡ª challenges set to grow further with AI.
Transmission towers in Vinh Trach Dong Commune, Bac Lieu Province, Vietnam, on April 26. Southeast Asia¡¯s relatively low production cost and strong position in the global semiconductor value chain is adding to the region¡¯s appeal as the next hub for data centers.
BUSINESS / Tech
May 28, 2024
AI frenzy draws stock traders to Southeast Asia¡¯s likely winners
Power producers are becoming a favorite as more data centers are set up in the region, thanks to lower energy and land costs, according to analysts.
The Nikkei stock market rally has paused, but the market has an upside potential toward the end of the year, according to Allianz Global Investors.
BUSINESS / Markets
Apr 22, 2024
Allianz says Japanese stocks will defy geopolitics and yen volatility
The asset manager expects support from solid corporate fundamentals and the long-term outlook for artificial intelligence.
The VinFast logo during an event in Los Angeles in November 2022
BUSINESS / Markets
Aug 30, 2023
VinFast¡¯s world-beating gain evokes memory of $400 billion crash
The last time a similar stock rose from relative obscurity to the one the world¡¯s largest companies, it didn¡¯t end well for investors.
One part of U.K. is enjoying a Brexit boost 10 years after vote
The Belfast harbor estate, Northern Ireland.
Japan coach takes responsibility for Wataru Endo going home
Japan's head coach Hajime Moriyasu attends a press conference ahead of Japan's 2026 World Cup football tournament Group F football match against the Netherlands in Dallas on Saturday.
¡®Customer harassment¡¯ continues in Japan despite moves to end it
A "customer harassment" prevention awareness poster at the entrance of an Aoki Super supermarket in Aichi Prefecture
Emperor Naruhito seeks public backing for an imperial family plan
Emperor Naruhito speaks at a news conference about his upcoming visit to the Netherlands and Belgium, in Tokyo on Thursday.
The challenge of being neurodivergent in Japan¡¯s culture of conformity
Social camouflaging can help neurodivergent people navigate social situations, but researchers say the effort often comes with significant emotional and mental strain.
Japan displays resilience in hard-fought stalemate with Netherlands
Koki Ogawa (right) and others celebrate Japan¡¯s second goal against the Netherlands at Dallas Stadium in Arlington, Texas, on Sunday.
How Kojima made a destination out of denim
Across Kojima, production facilities handle different stages of denim-making, from sewing and washing to finishing and quality control.
Newcomer to hallowed Niigata sake scene is already winning awards
Tomomi Duquette is the owner of Snow Satoyama Sake, one of just three breweries that have opened in Niigata Prefecture since 1953.
TV Tairiku Ondo channels the chaotic creativity of youth
The members of TV Tairiku Ondo ¡ª (from left) Harea Togari, Ryuji Chiyotani, Kotaro Suzuki and Hiroto Yanagawa ¡ª met as high school students in Sapporo and went viral in 2024 with an energetic 90-second track.
Japan aiming to live up to heightened expectations with deep run at World Cup
Japan's Daichi Kamada celebrates after scoring against Bolivia during a friendly at Tokyo's National Stadium in November.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo¡¯s Shinjuku Ward.
Kabukicho: Tokyo¡¯s ¡®stadium of desire¡¯

Longform

Social camouflaging can help neurodivergent people navigate social situations, but researchers say the effort often comes with significant emotional and mental strain.
The challenge of being neurodivergent in Japan¡¯s culture of conformity
By Tomoko Otake

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