Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>
OVERSEAS. US Yields spike to hit 16 year high; Stocks rise SPX closed +0.7% with Tech leading; China woes continue as forecasts cut; NVDIA and TSLA rebound on street optimism</li>
<li>
JAPAN.  NKY Futures +0.7% vs Cash; USDJPY 146.2;  BOJ on pace to buy record amt of bonds under new YCC regime;  Foreigners unloading JGBs; Japan DX market &gt; 2trn yen</li>
<li>
Japan X.  Flying Cars - investments pouring into the space globally. Skydrive, Japan's Flying Car beacon bearer, partners with Suzuki to to push the boundries in the space.  </li>
</ul>



OVERSEAS. US Yields spike to hit 16 year high; Stocks rise SPX closed +0.7% with Tech leading; China woes continue as forecasts cut; NVDIA and TSLA rebound on street optimism

JAPAN.  NKY Futures +0.7% vs Cash; USDJPY 146.2;  BOJ on pace to buy record amt of bonds under new YCC regime;  Foreigners unloading JGBs; Japan DX market &gt; 2trn yen

Japan X.  Flying Cars - investments pouring into the space globally. Skydrive, Japan's Flying Car beacon bearer, partners with Suzuki to to push the boundries in the space.  


Ohayo Japan|Yields Spike and Stocks UP?! Japan X: Flying Cars-Suzuki and SkyDrive's Aerial Ambitions

<ul>
<li>OVERSEAS.  SPX -0.4%  1st down day  7 as Markets price in Peak rates/rate declines;  SPX Looks risky here(More BELOW); China revamps NEV subsidies; Putin places tactical Nukes in Belarus..mmm</li>
<li>JAPAN. NKY Futs flat vs Cash;  USDJPY 141.8 post-BOJ on Friday;  NKY wins for 10th week; Kishida survives no-confidence motion; TEPCO goes full into Renewables; Lawsons makes a China push</li>
<li>NUGGET. SBI HD(8473) - Carbon Trading, Jumping in Early in what sets up to be a major opportunity</li>
</ul>


OVERSEAS.  SPX -0.4%  1st down day  7 as Markets price in Peak rates/rate declines;  SPX Looks risky here(More BELOW); China revamps NEV subsidies; Putin places tactical Nukes in Belarus..mmm
JAPAN. NKY Futs flat vs Cash;  USDJPY 141.8 post-BOJ on Friday;  NKY wins for 10th week; Kishida survives no-confidence motion; TEPCO goes full into Renewables; Lawsons makes a China push
NUGGET. SBI HD(8473) - Carbon Trading, Jumping in Early in what sets up to be a major opportunity


Ohayo Japan | US Equities-Risks Elevated? ; NUGGET: SBI HD(8473)-Carbon Trading, Jumping in Early

<ul>
<li>OVERSEAS. Credit Suisse Rattles Markets; Spurs Equity sell off in flight to Safety trade;   UST 2Yr Yld back below 4%;  Crude Extend losses amid Banks sector worries;</li>
<li>JAPAN. NKY Futs -2.6% vs Cash;  USDJPY 133.4.  NKY Futs surprisingly weak given JP untouched by turmoil; Govt considers Cash transfers to poor households; Inbound recovery Continues</li>
<li>NUGGET.  As Japan Hosts "Defense and Security Equipment International (DSEI) JAPAN"  trade show this week,  it will highlight opportunities for local defense contractors overseas.</li>
</ul>


OVERSEAS. Credit Suisse Rattles Markets; Spurs Equity sell off in flight to Safety trade;   UST 2Yr Yld back below 4%;  Crude Extend losses amid Banks sector worries;
JAPAN. NKY Futs -2.6% vs Cash;  USDJPY 133.4.  NKY Futs surprisingly weak given JP untouched by turmoil; Govt considers Cash transfers to poor households; Inbound recovery Continues
NUGGET.  As Japan Hosts "Defense and Security Equipment International (DSEI) JAPAN"  trade show this week,  it will highlight opportunities for local defense contractors overseas.


Good Morning Japan |Now Its Credit Suisse-Markets Rattled; NUGGET: Fuel for Japan's Defense Stocks

<ul>
<li>OVERSEAS.  SPX +1.9% to close on highs; Beta-driven rally as Tech rebounds;  Dovish talk from 2 Fed Members;  Google joins the fray slashing 12,000 staff; US Banks not far behind.</li>
<li>JAPAN.  NKY Futs +1.3% vs Cash; USDJPY 129.6;  CORE Inflation hits 4%;  Kishida: too early to discuss BOJ 2% policy exit;  Japan courts global elite grads; Population declines in 2022</li>
<li>DAILY NUGGET.  Change of Direction with new BOJ Leadership? Ha, policy direction has already been decided, and whoever the Govt selects will just continue where Kuroda left off. </li>
</ul>


OVERSEAS.  SPX +1.9% to close on highs; Beta-driven rally as Tech rebounds;  Dovish talk from 2 Fed Members;  Google joins the fray slashing 12,000 staff; US Banks not far behind.
JAPAN.  NKY Futs +1.3% vs Cash; USDJPY 129.6;  CORE Inflation hits 4%;  Kishida: too early to discuss BOJ 2% policy exit;  Japan courts global elite grads; Population declines in 2022
DAILY NUGGET.  Change of Direction with new BOJ Leadership? Ha, policy direction has already been decided, and whoever the Govt selects will just continue where Kuroda left off. 


Good Morning Japan | The Doves Strike Back; Google Joins Layoff Parade; "Too Early for BOJ Exit"

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Downtrends remain intact for Japan’s TOPIX/Nikkei 225, Hong Kong’s Hang Seng, Europe’s EURO STOXX50, Germany's DAX, China (MCHI-US), and all the MSCI global indexes (ACWI, ACWI ex-US, EM, and EAFE).</li>
<li>The majority of these indexes are in well-defined downtrends; that means when the downtrends eventually reverse, it will be clear and we will be ready to buy/turn bullish.</li>
<li>Relative strength on Japan's TOPIX is reversing topside a 4.5-year downtrend, signaling Japan is emerging as leadership. We highlight buy opportunities in Japan and also in defensive Sectors</li>
</ul>


Downtrends remain intact for Japan’s TOPIX/Nikkei 225, Hong Kong’s Hang Seng, Europe’s EURO STOXX50, Germany's DAX, China (MCHI-US), and all the MSCI global indexes (ACWI, ACWI ex-US, EM, and EAFE).
The majority of these indexes are in well-defined downtrends; that means when the downtrends eventually reverse, it will be clear and we will be ready to buy/turn bullish.
Relative strength on Japan's TOPIX is reversing topside a 4.5-year downtrend, signaling Japan is emerging as leadership. We highlight buy opportunities in Japan and also in defensive Sectors


Japan Emerging as Leadership; Actionable Themes: Japan and Defensives

Japan

Tokyo Electric Power Company, Incorporated generates, transmits, and distributes electricity.  The Company uses hydroelectric, thermal, and nuclear power sources.  Tokyo Electric Power distributes electricity in the Kanto area, which includes the Tokyo metro area, Kanagawa, Chiba, and Saitama prefectures.

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Tokyo Electric Power Co (9501 JP)

Ohayo Japan|Yields Spike and Stocks UP?! Japan X: Flying Cars-Suzuki and SkyDrive's Aerial Ambitions

Yields Spike and Stocks Up?! Huh? NKY Futures +0.7% vs Cash; USDJPY 146.2; BOJ on pace to buy record amt of bonds under new YCC regime; ...

Mark Chadwick

Ohayo Japan | US Equities-Risks Elevated? ; NUGGET: SBI HD(8473)-Carbon Trading, Jumping in Early

US Equities looks more RISK than reward to us; NKY Futs flat vs Cash; USDJPY 141.8 post-BOJ on Friday; NKY wins for 10th week; Kishida survives...

Mark Chadwick

Good Morning Japan |Now Its Credit Suisse-Markets Rattled; NUGGET: Fuel for Japan's Defense Stocks

NKY Futs surprisingly weak given JP untouched by turmoil; Govt considers Cash transfers to poor households; Inbound recovery Continues. NUGGET:...

Mark Chadwick

Good Morning Japan | The Doves Strike Back; Google Joins Layoff Parade; "Too Early for BOJ Exit"

SPX +1.9% to close on highs; Beta-driven rally. NKY Futs +1.3% vs Cash; JP CORE Inflation hits 4%; Kishida: too early to discuss BOJ 2% policy...

Mark Chadwick

Japan Emerging as Leadership; Actionable Themes: Japan and Defensives

Despite the intact downtrend on Japan's TOPIX, relative strength is reversing topside a 4.5-year downtrend; this tells us Japan is emerging as...

Vermilion Research

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