BoJ is to hold rates, yet data shows rising market rates and the JGB yield curve is steepening; we rate Resona and Mizuho for their higher rate gearing, high share of equity holdings to market cap.
What is covered in the Full Insight:
Introduction
Market Expectations and BoJ's Monetary Policy
Investment Thesis on Japanese Banks
Resona and Mizuho Financial Group Analysis
Risks Analysis
SUMMARY
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