‘Mother of All Pivots’ in 2023 Spurs Top Asia Fund to Eye Yen
- Yen will be ‘main vehicle’ to benefit when BOJ tweaks policy
- Pivot risks rising with report BOJ eyeing policy review
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One of Asia’s best-performing bond funds says the yen is the “main vehicle” investors should target when the last anchor to the world of rock-bottom interest rates lifts off.
“If you’re talking about pivots, this is the mother of all pivots,” when the Bank of Japan decides to tweak monetary policy, said Omar Slim, a money manager at PineBridge Investments. “The way that the market will respond to this, the obvious one will be potential appreciation of the yen.”