Perspectives Blog

Tokyo Olympics — another driver to get out of deflation?

Daisuke Nomoto, Senior Portfolio Manager | September 13, 2013

Tokyo has been chosen to host the 2020 Summer Olympics, with an estimated economic benefit of at least $30 billion. Hosting the Olympics could bring a wide range of implications to Japan on top of the mere economic impact, including strengthening Prime Minister Abe’s leadership. The next announcement to watch for in the near term is the Japanese government’s decision how quickly they will increase the consumption tax rate. Tokyo has been chose…

Does Japan’s sell-off present buying opportunities?

Daisuke Nomoto, Senior Portfolio Manager | February 10, 2014

…spective. Not only is the short-term shipment/inventory cycle on an uptrend, but also longer-cycle private capital investment and infrastructure spending (to replace aged infrastructure plus special demand from the 2020 Tokyo Olympics) looks favorable. Lastly, we think that Abe’s third arrow of structural reform will come back into focus sometime later this year. Many investors were disappointed with the third arrow announcement last spring simpl…

Opportunities in global infrastructure

Peter Santoro, Senior Portfolio Manager | February 3, 2014

…ia and the United States. Brazil • In August 2012, the government said it would spend $69 billion by the end of 2014 to improve its transportation systems. • The infrastructure spending for the 2014 World Cup and for the 2016 Olympics in Rio is projected to be around $50 billion. China • Out of 662 cities in China, more than 400 are suffering from water shortage with 110 of those cases considered to be severe. • China’s latest five-year plan has…