As Japan girds for a wallop to spending from a looming sales-tax increase, discussion in the nation’s parliament turns to history -- not to 1997, when the last bump in the levy helped trigger a recession, but to 1937.
The biggest-ever reshuffling of Japan’s Government Pension Investment Fund will result in the fund slashing its target for local bond holdings by a third to 40 percent of assets, according to analysts.
Putting the final touches to his latest book in October, retired Yale University professor Koichi Hamada received a phone call at his Connecticut home. It was Shinzo Abe, whom he’d known for more than a decade and was running for a second shot at being Japan’s prime minister.
Deutsche Bank AG has dubbed Japanese government bonds the world’s most-expensive debt and BNP Paribas SA predicts a selloff as soon as next month when the nation’s biggest pension fund starts seeking higher returns.