report August 30, 2026 Mark Carney’s Stag Hunt Canada cannot win a trade war against the US solo, and Carney knows it. In this article, I explain the global trade war through a game theory lens, and show the real game Carney is playing.... By Takuji Okubo Japan Macro Advisors
report August 27, 2026 Takaichi vulnerable ahead of challenging political stretch Takaichi's Tightrope: Fading Popularity, Fraught Future... By Tobias Harris Japan Foresight
report August 27, 2026 Iran | Sanctions: Designation Is Cheap. Enforcement Is Not Bessent is right about the extraordinary reach of American sanctions. But their power depends on a commercial system willing — and able — to enforce Washington’s prohibitions for it.... By Shahin Iraninejad Global South Strategic Intelligence
report August 26, 2026 CIA Director in Moscow: Why? | Karaganov Doctrine | Nukes Russia-Ukraine: OSINT, Radcliffe in Moscow, 'tactical' nukes and escalation threats... By Alessio Farhadi Speevr Intelligence
report August 26, 2026 Short The Yen As The BOJ Stays On Hold BOJ's Stance Signals Yen Weakness... By Alan Brazil SOM Macro Strategies
report August 22, 2026 We Don’t Judge Canada by Its Gross Debt Gross debt to GDP ratio is over-rated as a key fiscal indicator. I explain why a gross debt ratio can mislead, least of all the "Japan’s 250% debt to GDP" slogan... By Takuji Okubo Japan Macro Advisors
report August 19, 2026 The Land of the Slowly Rising Coupon Japan's net interest payments will remain the lowest among the Indebted Five: US, UK, France, Italy and Japan... Japan Macro Advisors
report August 17, 2026 Ten charts to Monitor the BoJ’s QE Exit — Part 1 I present BoJ QT monitor. In part 1, I focus on how far the BoJ's JGB ownership fell, who filled the gap and what happens to public sector debt duration when you consolidate BoJ reserves into it.... By Takuji Okubo Japan Macro Advisors
report August 13, 2026 The Case For Not Hiking–After Adjusting For Transitory Factors, Inflation Is Falling Towards 2% Beyond the headlines: Inflation's true trajectory suggests a pause on rate hikes... By Alan Brazil SOM Macro Strategies
report August 11, 2026 The BoJ’s Equity Bet Is Paying for QE Exit BoJ's ¥100+ trn equity ETF portfolio covers what it loses on its bonds. The same portfolio is the only channel through which the exit can break the Bank.... By Takuji Okubo Japan Macro Advisors
The Case For Not Hiking–After Adjusting For Transitory Factors, Inflation Is Falling Towards 2%