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10.07.26 - 16:48
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"GPIF To The Rescue?" Yen Jumps After Japan Urges Pension Funds To Invest More At Home (ZeroHedge)
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"GPIF To The Rescue?" Yen Jumps After Japan Urges Pension Funds To Invest More At Home
After a relentless collapse in the yen to a 40 year lows, the trajectory was finally dented overnight when Japan's finance minister called for the nation's massive pension funds to increase investments in domestic assets, boosting the yen from near four-decade lows and spurring a rally in bonds.
“One priority is to encourage households, as well as pension funds including the GPIF, to increase their investment in Japanese financial assets. We intend to pursue policies that support that objective,” Finance Minister Satsuki Katayama said Friday, referring to the Government Pension Investment Fund. It's one of the world's largest pensions with ¥293.6 trillion ($1.81 trillion) in assets.
The remarks in response to a question at a regular press briefing about government investment plans caught markets off guard, leading to a jump in the yen and a drop in bond yields. Both assets had been under...
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10.07.26 - 09:30
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Yen Advances Against Majors (AFX)
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CANBERA (dpa-AFX) - The yen strengthened against other major currencies in the Asian session on Friday. The yen rose to 4-day highs of 184.73 against the euro and 161.29 against the U.S. dollar, f......
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