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

The record rise in Japanese stocks since the beginning of this year is already becoming a distant memory. Foreign investors in particular for 4 consecutive weeks until 6/14oversale. According to data from the Tokyo Stock Exchange, this is the length since September last year. Citigroup, Aberdeen, etc. are intensifying their pessimistic views on Japanese stocks because corporate governance reforms and the Bank of Japan's monetary policy outlook are still uncertain.

Foreign exchange margin trading (FX) investors have begun to accumulate reserves of dollar sales and yen purchases due to “waiting for intervention” by the government and the Bank of Japan. As the depreciation of the yen progresses further, it goes against the trend of the marketOne win a thousand goldI'm aiming for an opportunity. According to aggregated data from the Tokyo Financial Exchange, FX investors expanded their yen buying positions against the dollar through futures trading after mid-May. It suggests the possibility that investment strategies that anticipate intervention and aim to secure profits when the yen rebounds are spreading, and it is also an expression of expectations for intervention.

The US financial authorities place importance onInflation indicatorsIt is likely to be the most moderate monthly increase since the end of last year. The May US Personal Consumption Expenditure (PCCE) Comprehensive Price Index announced on the 28th is expected to remain flat compared to the previous month, and the core index is expected to rise only 0.1%. Both overall and core are expected to rise 2.6% compared to the same month last year, and the core rate of increase is expected to remain the smallest since March 2021. If that actually happens, there is a possibility that it will be a stepping stone for starting interest rate cuts in September as well.

Ahead of the French National Assembly (lower house) election one week from now, the far-right political party, the National Union (RN) led by Marine Le Pen, continues to solidify its lead. Elove'spollsThen, RN's approval rating is 36%, the left-wing coalition is 27%, and the centrist ruling party “Regeneration (RE)” led by President Macron is only 20%. According to an Ipsos poll, Macron's approval rating dropped 4 points to 28%. It also became clear that voters are strengthening their trust in RN with regard to economic management.

Shares of NVIDIA, a major US semiconductor company, have a stock price sales ratio (PSR) of 23 times based on sales forecasts for the next year, making them the most expensive S&P 500 stock price index constituent stocks. However, there is a problem with that stock price valuation. In an age of artificial intelligence (AI) boom, the company'sturnoverThis is because not only Wall Street analysts but also NVIDIA's management team are uncertain about what will actually happen.