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Tuesday, March 06, 2018, 12:00 - 14:00

Currency Turmoil; Analysis on Current States and Future Prospects

Language: The speech and Q&A will be in English

Global equity markets suffered a mini meltdown or "flash crash" a month ago but then appeared to recover their composure quite quickly. Currency markets also suffered a further bout of nerves before appearing to stabilise. Now, all the indications are that there is more (and possibly worse) turbulence to come.

The early February mini-crash was dubbed the "Trump Slump" although to be fair to (US President Donald) Trump it was not anything that he said or did that provoked the sudden and sharp slide. It was US employment data showing a tight labour market that could spur inflation and monetary tightening (bad for equity markets).But now Trump has said and done something that looks like giving equity and currency markets a severe jolt. His decision to impose tariffs on steel and aluminum imports from major trading partners in Asia and elsewhere has been described as a "tariff torpedo" that could trigger a trade war and scuttle market confidence yet again.

How great are the threats from these and other recent events? The FCCJ has invited two leading financial analysts to assess the situation. Come and listen to them, and adjust your portfolio strategy in the light of what they have to say.

Ryota Sakagami is chief Japan equity strategist in the Equity Research Division of investment bank J.P. Morgan in Tokyo. He joined J.P. Morgan from SMBC Nikko Securities where he had been a chief equity strategist since 2011. He was the top-ranked strategist in the Nikkei Veritas Analyst Ranking for three consecutive years from 2014 to 2016 and was the top strategist in the Institutional Investor Ranking for the past two years.

Hiromichi Shirakawa is Chief Economist for Japan at Credit Suisse. He ranked runners-up in the 2013 Institutional Investor survey and ranked fourth in the 2011 Bloomberg best forecaster survey. Prior to joining Credit Suisse, Shirakawa was Chief Economist for Japan at UBS Securities. For 16 years from 1983, he worked at the Bank of Japan as an economist and a senior administrator.

Please reserve in advance, 3211-3161 or on the website(still & TV cameras inclusive). The charge for members/members' guest is 1,750/2,700 yen; non-members eligible to attend may pay in cash by e mail reservation (This email address is being protected from spambots. You need JavaScript enabled to view it. ). (Menu: braised chicken with mushroom cream sauce.) Reservations canceled less than one hour in advance for working press members, and 24 hours for all others, will be charged in full. Reservations and cancellations are not complete without confirmation. For meal service, please enter the room by 12:25.

Professional Activities Committee

20180306 PL Ryota Sakagami  Hiromichi Shirakawa03420180306 PL Ryota Sakagami  Hiromichi Shirakawa052

Ryota Sakagami               Hiromichi  Shirakawa

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