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Economy & Markets Aug 6, 2024

There's no place like home

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A surge in the Japanese Yen is resulting in home repatriation of Yen-funded positions overseas, and close-out of Yen-funded positions abroad. While Google was found guilty of home bias anti-competitive search engine behavior, any judicial remedies could be as bad for recipients of Google’s shelf space payments as they are for Google itself. Work-from-home trends have plateaued at ~30%, which has important implications for owners of impaired office buildings. Most distressed sales now require discounts of 60%+ vs pre-COVID levels; the fundamentals of the office sector explain why.
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Since 2005, Michael has been the author of Eye on the Market, covering a wide range of topics across the markets, investments, economics, politics, energy, municipal finance and more.

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