DFJ News and Press, WisdomTree Japan SmallCap Fund From 10/22/22

Summary The Japanese Ministry of Finance (MOF) intervened in FX markets for the first time since 1998 to support the currency. But the prime minister spoke of another catalyst that forced the MOF to intervene: speculative bets on the yen. Japan will continue to intervene as ap...

Summary Wall Street will pay close attention to the first look at third-quarter GDP. This is the critical week for guidance from mega-cap tech that will either make or break risk appetite. A new week will bring a new Prime Minister in the UK, the third in two months, following...

Summary October flash PMI data will provide much needed insights into the risk of some of the world's major economies falling into recession. Falling or near-stalled output was seen across the four largest developed economies - the 'G4'. Only Japan recorded expansion, and even her...

Summary Active central banks may create attractive opportunities for discretionary macro managers who can take advantage of higher volatility, higher rates and dynamic policy changes. The Russia-Ukraine conflict remains a large overhang across almost the entire commodity complex. ...

Summary Bond markets appear to be disciplining policy inconsistencies, both within sovereigns and among them. Policymaking can be inconsistent in two ways: within a sovereign, between the fiscal and monetary authorities, and among sovereigns. We see plenty of evidence that pol...

Summary Will these concerns about the UK bond market cause central banks to consider a rate-hike pivot? Why the Fed will likely stay the course, even if 'material risks' emerge. What happens if governments can't service their debts? The Bank of England has in...

Summary Global economic output contracted for a second straight month in September, adding to signs that businesses around the world are reporting the toughest conditions outside of pandemic lockdowns since the global financial crisis. Manufacturing is being hit by rising prices, ...

Summary Over the last two weeks Federal Reserve officials delivered 37 speeches, all of the speakers competing to see who could be the most hawkish. The big problem with the Fed’s plan to kill inflation by reducing economic growth and raising the unemployment rate is that t...

Summary Few sectors escaped this year’s global equity selloff in Q3. Those most vulnerable to the punishing effects of the recent spike in interest rates have paid an especially heavy toll. Real estate, telecom, utilities and tech were the worst performers in most marke...

Summary Global equity markets outside of the United States have completed a third negative quarter, with the MSCI ACWI ex US IMI Index down 11.26% in the three months through October 30. For the year to date, this index is down 27.19%, which clearly indicates a “bear market...