Macroeconomic and Investing, The Macro Compass

Alfonso Peccatiello (Alf)

Former head of a $20 bn Investment Portfolio and passionate global macro investor. I write The Macro Compass, a financial newsletter providing actionable investment ideas & unique macroeconomic insights to enhance the risk/return of your portfolio

Macroeconomic and Investing

The Macro Compass

Actionable investment ideas and unique global macro insights. From the desk of a former Head of $20 bn Investment Portfolio straight to your inbox.

Actionable Investment Ideas

Macroeconomics

<ul><li>We all woke up to a major macro surprise: the Bank of Japan (BoJ) widened the allowed trading band for the 10-year Japanese government bonds (JGBs) by 25 bps - 10y JGBs can now trade between -50 bps and +50 bps.</li><li>While this doesn’t seem like a major change, it really is. To understand why, we need to take a small step back.</li><li>For years, Japan implemented an aggressively dovish monetary policy stance.</li></ul>

We all woke up to a major macro surprise: the Bank of Japan (BoJ) widened the allowed trading band for the 10-year Japanese government bonds (JGBs) by 25 bps - 10y JGBs can now trade between -50 bps and +50 bps.While this doesn’t seem like a major change, it really is. To understand why, we need to take a small step back.For years, Japan implemented an aggressively dovish monetary policy stance.

What The Heck Is Happening In Japan?