[지식뉴스] "일본이 진짜 두려워하는 건 따로 있습니다"...금리인상에도 '엔캐리 청산' 없는 진짜 이유 (ft.서은숙 상명대 경제금융학부 교수) / 교양이를 부탁해

00:27 Why was the market quiet when Japan raised interest rates for the first time in 31 years? 01:29 Why global stocks waver when Japanese interest rates rise 02:51 Why did the 2024 ‘Black Monday’ explode in just one week? 05:38 Three reasons why the Yen Carry Shock was not repeated this time 08:19 What the Bank of Japan, which raised interest rates, actually fears most 11:03 The Fed is no longer kind… Kevin Warsh’s changed signals 12:49 The real reason the Fed created the ‘AI TF’… Opportunities open to Korean semiconductors 15:45 The dollar rises despite both good and bad news… How to protect assets in the second half 📌 Guest: Seo Eun-sook (Professor, School of Economics and Finance, Sangmyung University; Former Operating Committee Member, Korea Investment Corporation) On June 16, the Bank of Japan raised its base interest rate to 1%, marking a 31-year high. While this signals the de facto end of the zero-interest rate era, the shock seen in the "yen carry trade liquidation" that dragged the KOSPI down 8.8% in a single day in August 2024 did not occur this time. This is because liquidation had already largely taken place, the rate hike was well-anticipated by the market, and, above all, the Bank of Japan (BOJ) moved "stealthily" without rushing to reduce its government bond purchases. However, why is Japan so cautious even as it raises interest rates? The real reason lies in the circumstances of the Japanese government. With the BOJ shouldering a significant portion of the outstanding government bonds, rushing into quantitative tightening could paralyze the bond market; furthermore, due to massive government debt exceeding 200% of GDP, a 1 percentage point interest rate hike would result in a "huge bill" flying toward the government. There is also an underlying fear of returning to deflation, which Japan has escaped for the first time in 30 years. We examine the true nature of what Japan feared even after raising rates, and why diversified investment is the answer amidst the volatility expected to continue until the end of the year, with Professor Seo Eun-sook of the School of Economics and Finance at Sangmyung University. ※ This is a personal analysis by the cast member, not a stock recommendation. #PleaseTakeCareOfKyoyang #JapanInterestRates #YenCarryEquilibration #BankOfJapan #JapanNationalDebt #DiversifiedInvestment #SeoEunSook [Kyoyang Production Team] Brand & IP Director: Han Dong-hoon / Writers: Son Ye-won, Yoo Jin-kyung / Editing: Kim Cho-a, Hyun Seung-ho, Song Kyu-bum / Content Design: Ok Ji-soo, Choi Heung-rak / Cinematography: Park Woo-jin / Interns: Baek Ga-eun, Lee Da-jin [Business Inquiries] Please Take Care of Kyoyang, Inquiries regarding appearances, sponsorships, and content: [email protected] Knowledge news that makes you smarter the more you listen, Please Take Care of Kyoyang @sbs_explained Copyright Ⓒ SBS. All rights reserved. Unauthorized reproduction, redistribution, and use for AI learning are prohibited.