[5 books this morning] Selected news to read before starting work

The exchange rate of yen continued to fall for 6 business days against the dollar in the foreign exchange market. It is getting back close to its 34-year low. I put it on 4/29160 yen 17 yen is also visionI came in. In the market, caution against yen buying intervention by the Japanese authorities is once again rising. JP Morgan strategists Tanase Junya and Saito Ikue pointed out in the report that if it is determined that there are “excessive” movements, “speculative” movements, or movements “deviating from economic fundamentals” in the exchange market, the Ministry of Finance is prepared to intervene again.

The US Treasury Department is on a “watch list” on exchange practicesAdd JapanI did it. However, Japan and other trade partner countries have not been certified as exchange control countries. The ministry focused on Japan's large surpluses in bilateral trade and current account balance while pointing out that Japan moved to intervene in order to support the yen this year.

The Bank of England (British Central Bank) has policy interest ratesLeave it unchanged at 5.25%It was announced. It suggested that more policy committee members were getting closer to supporting interest rate cuts, which boosted expectations that interest rate cuts would be implemented by the end of summer. According to the summary of proceedings, the decision to forego interest rate cuts stood on a “delicate balance” for some of the nine Monetary Policy Committee (MPC) members. What is the initial rate cut among tradersAugustis viewed as influential.

The S&P 500 stock price index has repeatedly hit new highs, but with the exception of a few major high-tech companies that are boosting stock prices, the engineOut of gasIt looks like. There are fewer stocks participating in this year's rise, and according to data compiled by Bloomberg up to the end of last week, almost one-third of the stocks that make up the same index have hit a low for the first time in a month in the past month. Only 3.2% of companies, such as Apple and NVIDIA, hit a high price for the first time in a month.

President Kashkari of the US Minneapolis Federal Reserve said that while the monetary authorities would lower the inflation rate to the target 2%, to thatIt takes 1 or 2 yearsThey expressed the view that there is a high possibility. At the Michigan Bankers Association's annual meeting, the governor stated that the inflation rate “will take a little longer to return to 2%, but I'm sure it will reach that level.” It was emphasized that the path of policy interest rates is influenced by economic conditions.