2008 October 07 | Active Investing in Japan

Japanese monetary policy: stealth liquidity

October 7, 2008 admin No comments

$225B in three weeks?!

Shirakawa Downplays Speculation for Joint Rate Cut

The best way for central banks to counter the global
financial crisis is to provide liquidity, Shirakawa said. The
BOJ pumped 23 trillion yen ($225 billion) into the financial
system over the past three weeks, the most in at least six years,
as banks stored cash on concern other financial institutions may
follow Lehman Brothers Holdings Inc. into bankruptcy.

“It’s appropriate for each nation to make a judgment based
on its own economy and prices,” Shirakawa said at a press
conference in Tokyo after his board left the key interest rate
at 0.5 percent. Any coordinated action that doesn’t reflect this
would be “undesirable,” he said.

Harsh reality, no ex-Lehman love for Nomura

October 7, 2008 admin No comments

Hopefully the bonus pool Nomura (8604) (NMR: 5.63 +0.90%) set aside for ex-LB players in Europe produces different results.

clipped from www.bloomberg.com

Nomura Said to Lose 100 Lehman Equity Employees to Competitors

Oct. 8 (Bloomberg) — Nomura Holdings Inc., Japan’s largest
investment bank, will lose roughly 60 percent of the Japanese
equity employees acquired when it purchased the Asia-Pacific
business of bankrupt Lehman Brothers Holdings Inc., three people
familiar with the matter said.

About 100 of the 170 workers in Lehman’s Japan equity
research, sales and electronic-trading unit plan to leave the
Tokyo-based company, the people said. The departures include two
Lehman managing directors, Kazutoshi Ohkubo and Koichiro Chiwata,
who are joining London-based Barclays Plc.

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Japanese monetary policy: stealth liquidity

Harsh reality, no ex-Lehman love for Nomura

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