Bank of Japan
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The U.S. dollar weakened against most major currencies on Friday, hitting nearly two-week lows against the euro, as weaker-than-expected jobs data raised concerns that the pace of recovery in the American labor market has slowed.
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PIMCO CEO Mohamed El-Erian shared his thoughts on Japan's economy, following the tragic earthquake and tsunami that hit that nation Friday. El-Erian wrote that five factors will dominate the economic outlook, as the whole world is hoping the tragedies will soon give way to stories of rescues and recovery of a society that is suffering enormous pain and disrupting uncertainties.
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The yen has been trading violently against major and minor crosses, which, of course, is to be expected. But, what’s unexpected to some is the subsequent dollar weakness.
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Discussing whether Japan will sell US Treasuries to finance disaster relief, with Bob Iaccino, Traderoutlook.com, and Boris Schlossberg, GFT Forex Currency Research.
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Asian markets slide after Japan's deadly quake and tsunami, with CNBC's Bernie Lo.
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CNBC's Kaori Enjoji made her way to one of the hardest hit areas of Japan. "The coastline has completely changed," she reports.
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Friday's massive earthquake is yet another challenge to Japan's recovery but it may provide a jolt to the economy over the short term, Lawrence Summers, president emeritus of Harvard University and former director of the White House National Economic Council, told CNBC.
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The West is poorly positioned to handle this latest oil price scare. The buffers which typically limit downside economic risks are no longer working.
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As investors fret about a default of Greece’s $300 billion debt bill, consider this: at $10.2 trillion, the Japanese bond market is the largest government debt market on the planet. And Hedge fund manager Kyle Bass, who made his first fortune betting against subprime mortgages, is now wagering that this market will collapse—soon.
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Joseph Stiglitz, Professor at Columbia University and 2001 Nobel Prize Winner explains how the central bank's stimulus program will improve the debt to GDP ratio if it successfully ends deflation.