Bank of Japan The BoJ’s Equity Bet Is Paying for QE Exit Takuji Okubo Yen Macro Research August 11, 2026
report November 12, 2026 BoJ Asada No Longer a Die-Hard Dove He will still vote to hold in December, but he now accepts that rates may need to rise eventually, although at a slow pace... By Takuji Okubo Yen Macro Research
report November 10, 2026 The BoJ’s Swing Votes Are Splitting Apart I expect a 7–2 hold in December, with a 6–3 split possible if Koeda flips. Consumer spending remains below its May peak, and a sharp drop in Chinese tourists is hurting domestic demand... By Takuji Okubo Yen Macro Research
report November 8, 2026 JGB Yields Have Probably Peaked JGB yields have probably peaked for this cycle. I expect additional BoJ hikes, but none before March 2027, while asset rebalancing back to yen supports JGBs... By Takuji Okubo Yen Macro Research
report October 30, 2026 BoJs Ueda Keeps Both Doors Open BoJ more than doubled the pace of its ETF sales, a form of tightening in financial condition... By Takuji Okubo Yen Macro Research
report October 22, 2026 JMA Monthly #1: The Inaugural Issue In this inaugural issue of JMA Monthly, I look at the BoJ’s progress in quantitative tightening and what it means for the JGB market... By Takuji Okubo Yen Macro Research
