Salient to Investors:
Marc Chandler at Brown Brothers Harriman said G-20 basically said Japan can continue to reflate their economy, so it will continue to pursue aggressive fiscal easing and monetary easing, and just not talk about the currency so much.
S&P retained its negative outlook on Japan’s credit rating, pending policy developments.
Mansoor Mohi-uddin at UBS said the BoE is giving up on inflation targeting, so the pound is clearly at risk of following the yen and suffering the next large-scale devaluation for a major currency.
Kengo Suzuki at Mizuho Securities said the next risk event is Italy’s general election.
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