The turmoil triggered by the Bank of Japan’s recent interest rate hike has produced two more entries for the record book: All time highs for both inflows and outflows in the nation’s stocks last week. Global investors were net buyers of Japanese stocks in the week ending Aug. 9 as trading recovered from an historic rout. Gross sales totaled ¥31.3 trillion ($210 billion), the most since at least 2005, preliminary data from the Ministry of Finance showed. Gross purchases were ¥31.9 trillion, also a record over the same period, making them net buyers. Separate data from Japan Exchange Group Inc. later showed that including futures, foreign investors were net sellers, offloading ¥777.2 billion, while domestic institutions bought the most since March 2023. The Nikkei 225 Stock Average slumped 12% on Aug. 5, the biggest percentage fall since Black Monday in 1987, before rebounding 10% the next day. The data underscores overseas investors’ strong appetite for Japanese equities even after the unwinding of yen-funded carry trades sent shock waves through broader markets. Bruce Kirk, chief Japan equity strategist at Goldman Sachs Group Inc., said foreign investors are looking to buy Japanese stocks. The Nikkei jumped 8.7% this week, its steepest advance since April 2020.
Surveys show continued misconceptions and pessimism about the program, as well as bipartisan support for reforms to sustain it into the future.
With doors being opened through new legislation and executive orders, guiding clients with their best interests in mind has never been more critical.
Meanwhile, Stephens lures a JPMorgan advisor in Louisiana, while Wells Fargo adds two wirehouse veterans from RBC.
Large institutions are airing concerns that everyday investors will cut into their fee-bargaining power and stakeholder status, among other worries.
Fights over compensation are a common area of hostility between wealth management firms and their employees, including financial advisors.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
