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Nov 8, 2013

Asian shares skid to 3-wk lows, euro pummelled by ECB rate cut

TOKYO, Nov 8 (Reuters) – Asian shares slumped to a
three-week low on Friday after Wall Street suffered its biggest
fall in more than two months, while a surprise interest rate cut
by the European Central Bank underscored the fragility of the
global economy.

The euro was under the cosh after slipping to seven-week
lows of $1.3295 on Thursday after the ECB cut borrowing costs to
a record low of 0.25 percent in response to a sharp drop in
inflation.

Nov 7, 2013

Euro fights back as ECB looms; Aussie tumbles on jobs data

SYDNEY/TOKYO (Reuters) – The euro held firm on Thursday as investors quickly switched gears after upbeat German data dampened the chances of an imminent interest rate cut from the European Central Bank.

Expectations had been growing for the ECB to ease since data last week showed an alarming slowdown in inflation. But a surge in German industry orders in September and steady private sector growth in Europe’s largest economy in October, cast doubts on whether the ECB would act so soon.

Nov 6, 2013

Japan bond investors shrug off BOJ’s inflation drumbeat

TOKYO, Nov 6 (Reuters) – Six months after the Bank of Japan
adopted an unprecedented scale of monetary stimulus to end
stubborn deflation, the shock therapy has not yet changed
Japanese investors’ own stubborn mindset that the country is
stuck in a deflationary trap.

Many Japanese banks and life insurers have piled into
Japanese government bonds, sending the benchmark 10-year yield
below 0.6 percent last week, even as the
country’s consumer inflation steadily rises.

Nov 1, 2013

Euro buckles as subdued inflation sparks ECB stimulus hopes

TOKYO/SYDNEY, Nov 1 (Reuters) – The euro dropped to a
two-week low on Friday after a surprise slowdown in euro zone
inflation sparked speculation the European Central Bank may take
action to bolster the economy.

Euro zone inflation dropped to a four-year low of 0.7
percent in October, compared to a forecast of a flat reading at
1.1 percent, and way under the ECB’s target of just below 2
percent.

Oct 24, 2013

Japan’s Sumitomo Life plans to raise yen bond portfolio in Oct-March

TOKYO, Oct 24 (Reuters) – Sumitomo Life Insurance Co
plans to increase domestic bond holdings in the six
months to March, a senior company official said on Thursday, but
added that it could shift to foreign debt if domestic bond
yields stay too low.

Japan’s fourth-largest private life insurer with total
assets of 26.5 trillion yen ($272.4 billion) also plans to
gradually remove currency hedging on its foreign bond
investments, the official said.

Oct 24, 2013

Japan’s Meiji Yasuda Life plans bond buying spree

TOKYO, Oct 24 (Reuters) – Japan’s Meiji Yasuda Life
Insurance may buy around 700 billion yen ($7.2 billion) in
domestic bonds between now and March — but only if the yields
are right.

“At the current yield levels, we need to be cautious… We
feel the bond yields have fallen a bit too far,” Toshihiko
Yamashita, chief executive of the insurer’s investment division,
told a news conference.

Oct 23, 2013

Dollar hits fresh lows as soft U.S. jobs data cements Fed stimulus hopes

TOKYO/SINGAPORE, Oct 23 (Reuters) – The dollar set a fresh
two-year low against the euro on Wednesday after disappointing
U.S. jobs data cemented expectations that the Federal Reserve
will not begin to taper its stimulus until early next year.

The dollar also touched a fresh eight-month trough against a
basket of currencies, with the dollar index slipping to 79.141
and nearing this year’s low of 78.918 set in early
February.

Oct 23, 2013

Dollar wobbles after U.S. job data cements Fed stimulus hopes

TOKYO (Reuters) – The dollar wobbled near two-year low against the euro on Wednesday after disappointing U.S. jobs data cemented expectations that the Federal Reserve will keep its stimulus in place at least until early next year.

Data showed U.S. employers added far fewer workers than expected in September, suggesting the U.S. economy may have lost some momentum even before a damaging 16-day partial shutdown of the federal government.

Oct 22, 2013

Nippon life to boost domestic bonds, seeks chance to buy foreign bonds

TOKYO, Oct 22 (Reuters) – Japan’s Nippon Life Insurance
plans to increase yen bond holdings in the six months
to March but is also ready to buy foreign bonds as well if it
can buy dollars and euros on dips, a company official said on
Tuesday.

Although the Bank of Japan’s radical monetary easing in
April sparked speculation many Japanese life insurers might
stampede into foreign bonds to earn higher income, Nippon Life’s
stance is a reflection of little change in industry investment
patterns.

Oct 21, 2013

Dollar steady, but seen vulnerable as Fed tapering view recedes

TOKYO/SINGAPORE, Oct 21 (Reuters) – The dollar was mired
near an 8-month low against a basket of currencies on Monday on
growing expectations the U.S. Federal Reserve will have to delay
scaling back its stimulus following a 16-day government
shutdown.

The dollar index held steady at 79.675 , not
very far from a trough of 79.478 touched on Friday, its lowest
level since February.