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JGBL vs. ETF Alternatives
JGBL Description
The PowerShares DB Japanese Govt Bond Futures Exchange Traded Notes (Symbol: JGBL) (collectively, the "PowerShares DB JGB Futures ETNs," or the "ETNs") are the first exchange-traded products to provide investors with leveraged or unleveraged exposure to the U.S. dollar value of the returns of a Japanese bond futures index.
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Country: Japan
Key Info
- In Your Portfolio: A Guide to International and Emerging Market Government Bond ETFs
- Asset Class Performance: Bonds, Countries
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Monday, March 25, 10:09 AM As with the U.S., aggressive monetary easing in Japan is not translating into falling government bond prices, especially when the easing is the central bank buying government bonds. The 10-year JGB (JGBL, JGBT) yield falls to 0.55%, the lowest in about a decade even as a new regime has made devaluation of the yen its key economic policy. Top-gaining Japanese ETFs last week: DFJ +4.3%, JSC +4.2%, SCJ +3.4%, FJP +3.2%. 1 Comment [Global & FX]
- Monday, March 18, 4:01 AM DB announces a halt in new creations on 26 ETNs it is the indexer or issuer on (effective 3/29), meaning the potential for the notes to trade at significant premiums to NAV as redemptions will still be available. DB expects to resume creations by mid-April. The affected notes follow: BDD, BDG, BOM, BOS, BUNL, BUNT, DEFL, DGP, DGZ, DOD, DTO, DZZ, INFL, ITLT, ITLY, JGBD, JGBL, JGBS, JGBT, LBND, OLO, SBND, SZO, UDNT, UUPT, WMW. 2 Comments
- Wednesday, March 13, 5:56 AM Japan's main opposition party, the DPJ, plans to oppose the nomination of Kikuo Iwata as the Deputy Governor of the Bank of Japan in a vote on Friday. Support from smaller parties should enable the government to win approval for Iwata - who's considered to be a strong advocate of easing policies - in the upper house, where it lacks a majority. However, that's not stopped the yen from strengthening and shares from falling. The Nikkei closed at -0.6% and the dollar is -0.3% at ¥95.78. Comment! [Global & FX]
- Thursday, March 7, 2:50 AM As widely anticipated, the Bank of Japan has left its monetary policy unchanged in Masaaki Shirakawa's last meeting as governor, with the BOJ's key interest rate staying at 0-0.1% and its asset asset-purchase program at ¥101T. The real action is expected to come at the bank's next meeting in early April, which is set to be led by prospective governor and uber dove Haruhiko Kuroda. (PR) Comment! [Global & FX, Top Stories]
- Monday, March 4, 1:20 PM More on Gundlach: "Can you imagine (the President) walking around the U.S. saying 'I'm going to inflate. I want to inflate. My policy is inflation," he asks. That's what the President wants, says Gundlach, but at least he doesn't say it. In Japan, the PM is actually saying it. He sees the yen (FXY) headed to 200 to the dollar (93.37 now). 2 Comments [Global & FX, Quick Ideas]
- Sunday, March 3, 9:02 PM Haruhiko Kuroda - nominated to be next BOJ governor - ratchets up expectations for the central bank's first meeting under his leadership (April 3-4), telling parliament he will do whatever it takes to end deflation. Adding a bit of humor to his confirmation hearing, he says the BOJ's easing isn't aimed at weakening the yen. Dollar/yen -0.1% at ¥93.43. The NIkkei +0.7%. 9 Comments [Global & FX]
- Thursday, February 28, 2:06 AM The yen is lower against the dollar following Haruhiko Kuroda's nomination as the BOJ governor, with the greenback +0.2% at ¥92.41. The Nikkei rises 2.1% after falling sharply in the previous two sessions. Kuroda has advocated an inflation target for the BOJ for over a decade and reckons Japan can hit 2% within two years. 3 Comments [Global & FX, Top Stories, On the Move]
- Thursday, February 28, 1:55 AM As expected, Japanese Prime Minister Shinzo Abe has nominated Asian Development Bank President and uber dove Haruhiko Kuroda as the next Governor of the Bank of Japan. Abe also picked academic Kikuo Iwata, who backs unconventional monetary policy, and BOJ official Hiroshi Nakaso as deputy governors. The nominations will need opposition support to receive parliamentary approval. Comment! [Global & FX, Top Stories]
- Sunday, February 24, 2:07 PM Japanese PM Shinzo Abe is reportedly set to nominate Asian Development Bank President Haruhiko Kuroda as BOJ Governor. It's hard to think of a bigger dove. "The Bank of Japan must be prepared to do anything and everything" to achieve its 2% inflation target, he said in a January interview. Look for a big opening pop in the Nikkei, and a big opening drop in the yen. 11 Comments [Global & FX, Top Stories]
- Thursday, February 21, 9:05 AM Are investors having 2nd thoughts about the Abe trade - long Nikkei, short the yen (FXY)? Markets have lost count of the number of prime ministers promising change Japan's bureaucracy has chewed up and spit out (this is Abe's 2nd go-around). Market reaction to Abe's selection for next BOJ Governor will be key to seeing whether the stock rally, yen devaluation will continue. EWJ -0.7% premarket. Comment! [Global & FX]
- Monday, February 18, 2:48 AM S&P gives new Japanese PM Shinzo Abe a semi-thumbs up after reiterating the country's rating at AA- with a negative outlook. Abe's policies will be "critical" if Japan "is to arrest a prolonged decline in its sovereign credit standing," S&P said. The firm added that it would cut the country's rating if it "thought that government policies would be ineffective" in solving Japan's deflation and growth problems. 2 Comments [Global & FX, Top Stories]
- Tuesday, February 12, 8:13 AM Negative real rates finally come to Japan. This chart of Japanese 5-year index-linkers from Ed Bradford shows the yield turning negative last November - right around the time stocks took off and the yen began its steep decent. Comment! [Global & FX]
- Monday, February 11, 4:52 PM A big move late in the yen (FXY -1.2% in regular trade, -0.6% AH) takes the currency to its weakest vs. the dollar in more than 2 years, the greenback now buying ¥94.32. The hedged Japan equity fund (DXJ) nods in approval, +2.4%. The Nikkei was closed Monday, but look for fireworks tonight. Earlier: The government drops all pretense and calls for Nikkei 13K by March 31. 5 Comments [Global & FX, On the Move]
- Monday, February 11, 9:45 AM Forget inflation targets, Japan now has a stock market target and it's Nikkei 13K by the end of March, according to Economy and Finance minster Akira Amari. If Japan has its own David Tepper, we're pretty sure we know what he's doing. Tokyo was closed overnight, but DXJ gains 1.2%. The yen slides, FXY -0.6%. 16 Comments [Global & FX, Quick Ideas]
- Wednesday, February 6, 7:01 AM The early retirement of BOJ Governor Shirakawa is cause for a party in Tokyo, with the Nikkei soaring 3.8%. The dollar strengthened vs. yen - nearly tapping on 2009 levels - before backing off to about unchanged on the session. BOJ board member Takehiro Sato says achieving the new 2% inflation goal would require as-yet untried QE methods. Can't wait. EWJ +1% premarket. 8 Comments [Global & FX]
- Tuesday, February 5, 8:17 AM The Yen Trust ETF (FXY) -1.3% premarket after BOJ Governor Shirakawa steps down three weeks ahead of schedule. PM Abe has made it clear he wants someone on the job who will be bolder with monetary policy (the U.S. has a couple to offer). Currently speaking at a news conference, Shirakawa says he's under no pressure to resign early. Sure. 2 Comments [Global & FX, On the Move]
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