Over My Shoulder | Mauldin Economics

Over My Shoulder

“Big Asset Shift of Japan’s GPIF Is Secret Weapon of Abenomics”

April 28, 2015

This is longer than the typical OMS, but it's a powerful 15 pages on Japan and their debt and the continued boom in equities worldwide as Japanese funds diversify. This article mentions two huge funds but assumes that almost every fund will be imitating. As will insurance companies and annuities, etc. This is a huge plus to equities.

Just one of these funds is over $1 trillion, even at the weaker yen to the dollar. The movement into equities is about the same as if CALPERS decided to shift from all bonds into all equities.

Download - GPIF_Institutional_Investor_.pdf

HSBC: On the New Silk Road III

April 28, 2015

This is a very good primer from HSBC on Beijing's "One Belt, One Road" initiative. Current estimates say it could cost up to $232B, which seems low to me. Digging in to the research & will report back with what I learn. ~ Worth Wray

Download - 456891.PDF