瑞穗：美日政策协调显成效，看好日元升破150大关

Core Viewpoint - The Chief Investment Officer of Mizuho, Shigeki Muramatsu, indicates that the Japanese yen is expected to strengthen and potentially break the 150 mark as the Bank of Japan is anticipated to raise interest rates in April [1] Group 1: Market Conditions - Mizuho manages approximately $512 billion in assets as of the end of September last year [1] - There were previous market concerns regarding the current government's ability to raise interest rates, which contributed to the yen's weakness; however, the situation is changing [1] - The likelihood of interest rate hikes by the Bank of Japan has increased in the context of coordinated actions between Japan and the U.S. [1] Group 2: Investment Strategy - Mizuho currently favors purchasing ultra-long Japanese government bonds [1] - The yields on these bonds are considered attractive relative to Japan's growth prospects, particularly the 30-year bonds, which have stabilized around 3.64% after recent market turbulence [1] - The 30-year Japanese government bond yields are now higher than those of German bonds of the same maturity, despite Japan's lower potential growth rate, enhancing the appeal of Japanese bonds [1] Group 3: Fiscal Policy Impact - The stability of the bond market is expected to continue unless the government's tax reduction efforts exceed the current commitment of a "two-year food tax exemption" [1]