Diary 2/17 東京家賃高い、各国依然リスクオフムード

Today, I’ve just got home and I’ve chatted by LINE apps with my friend. A friend of mine is searching for new rental house. Tokyo has many population numbers. So rent is very high. Additionally, the price is increasing year and year. Nowadays inflation pressure push the commercial stuffs price up. But before that, Tokyo rent price is rising every year. Many people come into Tokyo, so the housing demand is getting strong. I checked real estate price index in Japan. The price in 2021 has got about 170% higher from 2013. It is terrible. The rent price seems to be higher than the price of Bubble economy in 1990s. I’m afraid that market crush is coming. BOJ keeps easing monetary policy and interest rate is low for now. BOJ still purchases government bonds in order to keep the 10-year interest rate below 0.25%. When BOJ will change the stance, I’m not sure about what happen…    

The U.S. and its allies say Russia is increasing the number of troops around Ukraine while Russia says it is decreasing. Diplomatic efforts remain the focus for now. The minutes of the FOMC showed few something new about tightening the policy. Investors are still concerning geopolitical risk and inflation due to cost push and supply chain stuck. Markets slipped around the world. Japan TOPIX were down by 0.8%. In Europe, the stock 600 index fall by 0.1%. The US stock futures are also down. Yields on 10 years fall to 2.017%. Oil was close to 92 dollars a barrel. It seems that market’s sentiment is weak. Risk off may mood refrain investors from buying. Dollars and Yen seems to be buying. I’m not sure if the tension between Russia and NATO. So I’d like to watch FOMC member’s speech. The FOMC minutes is about meeting before January CPI and job report which showed strong inflation.  Therefore FOMC members comment may show FRB’s hawkish stance.