Global Equity Strategy: Stick With Reflation & Reopening Theme
Our bullish outlook remains intact supported by the absence of breakdowns across major global indexes. Until this changes, we believe global...
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Japanese Banks: Remember, Remember, the Thrift of November
Japanese people are renowned for their thrift. Even when deposit interest rates are zero they continue to save. But there is little the banks can...
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Japanese Bank Lending: Losing Momentum
Loan balances have eased back to May levels, with much of the increase in lending by the major banks in March-June reversing between July and...
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Concordia Financial Group (7186 JP): Unequal Partners
Interim results for Concordia Financial Group (7186 JP) show that partner bank HNPB remains the drag on group profitability. The stock is down 16%...
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Gunma Bank (8334 JP): Hiding in Plain Sight
On a PER of 7.0x and a PBR of 0.30x, the stock remains inexpensive against peers despite being up some 30% since touching a low in mid-March. This...
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