October 15, 2019Taiwan
Taiwan's central bank—and Taiwanese households—have taken on an awful lot of foreign currency risk over the years …
October 4, 2019Taiwan
Large-scale purchases of foreign bonds have become the central flow sustaining Taiwan’s massive current account surplus and keeping the Taiwan dollar weak. The size of this flow raises the question o…
October 24, 2019Japan
Japanese investors have an obvious incentive to search for yield abroad. But why has foreign demand for Japanese bonds almost matched Japanese demand for foreign bonds?
May 15, 2017Japan
Shinto priests walk in a line to attend a ritual to usher in the upcoming New Year at the Meiji Shrine in Tokyo, Japan on December 31, 2016 (REUTERS/Kim Kyung-Hoon).
April 24, 2017Monetary Policy
The basic constellation in the post-BoJ QQE, post-ECB QE world marked by large surpluses in Asia and Europe but not the oil-exporters has continued. Inflows from abroad have come into the U.S. corpo…