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In this regular podcast series, MUFG subject matter experts within our business discuss the forces, indications, and policies that impact the U.S. economy and financial markets, and provide updates to their economic outlooks and forecasts for the weeks, months, and years ahead.

Trouble on the horizon for the UK economy? The Global Markets FX Week Ahead Podcast

Last week’s Bank of England policy meeting was positive for the pound, decreasing downside risks as confirmation was given that negative interest rates won’t be introduced for now. While the BoE continued to display a relatively optimistic outlook for the UK economy, Lee Hardman, Currency Analyst at MUFG considers whether this could be put at risk as the UK economy looks set to struggle in the coming months.

As announcements about job cuts linked to COVID-19 continue to grow, along with the heightened risk of a disruptive Brexit outcome, Lee expects further policy easing will be needed in the coming months to ensure stability. Elsewhere, strains are building in emerging markets but will they help to support the US dollar more broadly? Click below to listen now.

If you can’t view the above media player, this podcast is also available on Apple Podcasts and Spotify.

Examining BoJ asset purchases and supply of Dollar funds: The MUFG Global Markets Podcast

Major Japanese companies began announcing Q2 earnings results last week. Earnings of major companies reflect the uncertainties of the COVID-19 pandemic. Japanese companies need to secure USD funding with JPY basis swaps to maintain their global business portfolios amidst uncertain business conditions. Despite all this chaos global stock and credit markets remain calm as central banks in key economies continue to buy government bonds and credit assets and supply USD funds. Will this continue?

In this episode, Takahiro Sekido, Chief Japan Strategist of Global Markets Research, MUFG Bank Tokyo discusses the increase in fiscal receipts from MoF issuance in the context of BoJ asset purchase and USD fund-supply operation announcements. He also updates his view on the Yen, JPY rates and JPY cross-currency basis.

If you can’t view the above media player, this podcast is also available on Apple Podcasts and Spotify.

Uncertainty for USD and GBP: The Global Markets FX Week Ahead Podcast

Uncertainty looms for both USD and GBP as both countries reckon with unpredictable forces. Relentless selling saw the dollar have a terrible month in July, and now concerns that President Trump may call into question the legitimacy of votes in the U.S. election and risks of the Fed failing to pass another fiscal stimulus package are further undermining the currency.

 

Meanwhile the pound has seen surprising strength over the past month, but with a Bank of England meeting on Thursday, local lockdowns and COVID-19 second wave fears, can this trend continue? Lee Hardman, currency analyst, gives his forecast. 

If you can’t view the above media player, this podcast is also available on Apple Podcasts and Spotify.

Learn more

For more information,
contact us.

John Cooke
Head of Rates Sales, Americas
New York, NY
1-212-405-7353
John.Cooke@mufgsecurities.com

George Goncalves
Head of U.S. Macro Strategy
New York, NY
1-212-405-6687
George.Goncalves@mufgsecurities.com

Takahiro Sekido
Chief Japan Strategist
Tokyo, Japan
1-81-3-6214-4150
Takahiro_Sekido@mufg.jp

Glenn Schultz
Head of Agency Mortgage Prepayment Modeling and Strategy
Chicago, IL
1-212-405-6521
Glenn.Schultz@mufgsecurities.com

The podcast content above is being provided for educational and informational purposes only. The information and comments are not the views or opinions of MUFG Union Bank, its subsidiaries or affiliates. Please consult your attorney, accountant or tax or financial advisor with regard to your particular situation.