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Podcast: All into Account
Episode: Equity Strategy: Japan stays key OW in regional allocation; In a European context, one should consider UK
Description: Speaker: Mislav Matejka, CFA - Head of Global Equity Strategy
From a global equity perspective, we had upgraded Japan to OW in Dec ’22. While we still think that USD is likely to be stronger from here, it might not be crucial to hedge JPY anymore, as the interest rate differential between the US and Japan looks set to start converging this year. For the continued bullish view on Japan, we reiterate: First, TSE reform is set to lead to improved corporate profitability and greater shareholder returns, given that more than half of Japanese stocks are still trading ne...