[5 books this morning] Selected news to read before starting work
Watch for volatility
Treasurer Jun Mimura does not have a specific level in mind regarding exchange rate trends,volatilityHe said he was watching.
On top of that, he stated that it is desirable to reflect fundamentals and move steadily. When asked about exchange rate intervention, they explained that intervention is part of an important monetary authority's policy, and the basic way of thinking will not change under the agreement of the 7 major countries (G7) and 20 countries/regions (G20).
However, he stated that the method for disseminating information may not necessarily be the same as before. When it comes to Mr. Mimura, who is the successor of Mr. Masato Kanda, there is a high level of interest in what style they plan to communicate with the market.
Doubting the 2% achievement
Jamie Dimon (CEO) of JPMorgan Chase, a major US bank, is of the view that the inflation rate will drop to 2% targeted by the Federal Reserve (FRB)Raise a questionIt pointed out risks such as large-scale spending under budget deficits and “resumption of global arms buildup.” It was stated in an interview with the Economic Specialist Bureau CNBC that economic uncertainty related to factors such as geopolitics and quantitative tightening is still high.
The Federal Open Market Committee (FOMC) will cut interest rates soon, but he said, “I don't think it's as important as other people think.”
The largest scale after the invasion
Russian President Vladimir Putin is Russia by Ukraine the largest since the 2022 invasioncross-border attackThe top national defense and security leaders were convened and an explanation was asked for.
Chief of Staff Gerasimov stated in a televised meeting with Mr. Putin that the Ukrainian army with about 1000 soldiers crossed the border and attacked with the aim of conquering Kursk Oblast in western Russia. European natural gas prices rose drastically in the wake of a report by military blogger “Driver” that the Ukrainian military had conquered Suja in Kursk region. Russia has declared a state of emergency in the Kursk region.
Stronger or weaker
In the April-June (3rd quarter) financial results announced by Walt Disney in the US, although video distribution services achieved profit for the first time, the slump in theme parks offset it,Stronger or weakerIt became the content. Other than theme parks, sales were unexpectedly strong, and earnings per share excluding some items and sales both exceeded market expectations.
“Inside Head 2,” which was released in June, was a hit, and the film production business also put an end to a series of deficits. Bob Iger, who returned to the position of Chief Executive Officer (CEO) in 2022, set two important issues: rebuilding the film business and making video distribution profitable.
Dr. Doom is not pessimistic
Famous economist Nuriel Roubini said that the market incorporates aggressive interest rate cuts from the view that the US economy is heading for a hard landing,Becoming too pessimisticI pointed out that it was happening. Mr. Roubini, who warned of the 2008 financial crisis in advance and takes the nickname “Doctor Doom (Doctor Doom),” said, “There is some serious evidence of an economic slowdown, but I don't think the data suggests a hard landing in the near future. If anything, the economy is strong,” he said in an interview with Bloomberg Television. “Markets are often mistaken about the state of the economy and the course of monetary policy,” it said.
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