Akane Otani

speaker

1,333 appearances 33 recordings 1 series first heard Aug 2017 last heard Mar 2023

Akane Otani’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Q1: Stocks Up More Than 10% · 29 Mar 2019 podcast

Thanks for having me.

WSJ Your Money Briefing · Stocks, Bond Yields Slide on Weak Economic Data · 22 Mar 2019 podcast

That's right. matched

And it really confirmed, I think, for a lot of investors that the momentum in the Eurozone in particular is weakening. matched

And while that doesn't necessarily mean that U.S. matched

stocks are going to be affected on a one-to-one direct basis, investors here really care about what's going on in the Eurozone because, of course, we have a lot of multinationals. matched

that make up the S&P 500. matched

So when you see such a large region of the world suffering a decline in economic data, it's natural that at some point it's going to have a ripple effect. matched

And I think that's what investors are really worried about at this point is if we're starting to see the beginning of a more prolonged downturn or if this is just sort of first quarter week soft patch. matched

That's right. matched

And I think more and more we're hearing this question of how far can central banks go? matched

I mean, especially in the eurozone, rates on developed markets are quite low still. matched

And so there's not that much more that the ECB can do, especially compared to the Federal Reserve. matched

So there is this fear that maybe when the next downturn really starts happening, that central banks will be somewhat more limited with regards to the tools that they have, as opposed to, say, a decade ago when we were seeing the financial crisis erupt. matched

Why investors care about bond yields? matched

I mean, when we're thinking about borrowing costs across the economy, they're very often pegged to the benchmark bond yields. matched

So, in this case, the 10-year U.S. matched

Treasury yield. matched

In Germany, the 10-year German Bund yield. matched

And when we see these yields fall, it typically indicates that investors are losing confidence in future prospects for growth. matched

And so, the steep slide that we saw at the end of the week really, I think, brought home that investors are taking these economic readings that we're getting and they are concerned this isn't necessarily something that they were expecting to see at the end of the week. matched

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