November 12, 2025

LOCKED Japan Update: Katayama Warns Currency Market as USDJPY Hits 155

Katayama Warns Curerency Market as USDJPY Hits 155

October Economy Watcher’s Index Higher

Current Account Grows 14.1% in FY 2025 H1

October Machine Tool Orders Up 17% on US, China Demand

Economic Advisory Panel Now Stacked with Reflationists

MoF Takes Aim at Inefficient R&D Tax Breaks

November 12, 2025

LOCKED Will SMEs Determine the Direction of The US Economy?

Like US consumption, the corporate sector is K-shaped, but the little guy is key
Indeed SME employment could determine whether we face recession or inflation
The good news is that while employment growth is slowing, it remains positive
The bad news is that with credit still tight, the setup is precariously balanced

November 12, 2025

Recent Publications

Japan Update: July Economy Watcher’s Index Falls

Ask Me Anything & Summary of Views with Julian Brigden – August 2022

Thoughts From The Divide – Releasing the Hounds

Japan Update: Japanese Electronic Parts Makers Report Higher Inventories

Macro Insiders: In Focus Trade Portfolio – August 2022

MI2 China Update: Pelosi’s Taiwan trip still on, despite China signaling a potential military response

Blog Posts

Thoughts From The Divide: The Anti-Trump Trade (And Other Graceful Exits)

Thoughts From The Divide: I’ll have what he’s having!

LOCKED Part II: The End of the Basle 3 “Endgame”

LOCKED MacroCapture: On Our Radar | 2/8 – 2/15