Surveillance: BOJ Jolt with BNY Mellon's Yu
Bloomberg Surveillance
00:00
Japanese Banks and Interest Margins
We like Japan as an equity market. The currency is super cheap on the OECD purchasing power parity basis. 50% undervalued stocks are super cheap. You have stocks that sell for less than cash. We think the BOJ is exiting yield curve control. That's going to set off a potential allocation out of foreign assets, which is what Japan institutions have been doing for years back into domestic assets.
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