Shares of Japanese banks are trading higher following a report suggesting the BOJ will discuss a yield curve control tweak to allow rates over 0.5%.
Portfolio Pulse from Benzinga Newsdesk
Shares of Japanese banks are trading higher following a report suggesting the Bank of Japan (BOJ) will discuss a yield curve control tweak to allow rates over 0.5%. This news directly impacts the US-listed Japanese banks MFG, MUFG, and SMFG.
July 27, 2023 | 5:30 pm
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POSITIVE IMPACT
Mizuho Financial Group (MFG) shares are trading higher due to the BOJ's potential yield curve control tweak.
The BOJ's potential yield curve control tweak could allow for higher interest rates, which would likely increase the profitability of banks like MFG. This explains the rise in MFG's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Mitsubishi UFJ Financial Group (MUFG) shares are trading higher due to the BOJ's potential yield curve control tweak.
The BOJ's potential yield curve control tweak could allow for higher interest rates, which would likely increase the profitability of banks like MUFG. This explains the rise in MUFG's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sumitomo Mitsui Financial Group (SMFG) shares are trading higher due to the BOJ's potential yield curve control tweak.
The BOJ's potential yield curve control tweak could allow for higher interest rates, which would likely increase the profitability of banks like SMFG. This explains the rise in SMFG's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100