BlackRock, Man Group Reveal Big Japan Bets Before BOJ Decision

RBC BlueBay is shorting Japan government debt, abrdn likes yen
BlackRock sees gradual rate increases, favors Japan equities

WATCH: Japan’s largest labor union group will release the most closely scrutinized wage figures in decades. The numbers may be strong enough to nudge the BOJ toward raising rates. Paul Jackson reports.Source: Bloomberg

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By Ruth Carson, Winnie Hsu, and Yasutaka Tamura

March 14, 2024 at 11:30 PM UTC

Updated on

March 15, 2024 at 9:10 AM UTC

This article is for subscribers only.

Snap up more Japanese stocks, ratchet up shorts on government debt and keep buying the yen: these are some of the most popular calls from big-name money managers ahead of a central bank meeting that may end the world’s last experiment with negative interest rates.

Speculation that the Bank of Japan will raise interest rates on Tuesday intensified after the nation’s largest union group announced stronger-than-expected annual wage deals. The stakes will be enormous, changing market dynamics at a time when the nation’s blue-chip share gauge is towering near its record high, bond yields are creeping back up and the weak currency is boosting exporters.