Morgan Asset Management: The Bank of Japan “slow on interest rate hikes”

On 4 August, Morgan Asset Management indicated that a reduction or avoidance of national debt on a day-to-day basis could increase the excess return over the global bond benchmark index. Myles Bradshaw, head of Morgan’s Global Consolidated Bond Business, said that the Bank of Japan was still “slow” in terms of policy normalization and interest rate hikes, which meant that Japanese yen intervention alone was unlikely to change the currency’s fundamentals or substantially slow down its devaluation。