September 19, 2026

Do Higher Japanese Bond Yields Strengthen the Yen? Testing Japan’s 10-Year Yield and USD/JPY

Higher Japanese yields are often cited as a reason for yen strength. But when Japan’s 10-year government bond yield rises, does USD/JPY actually tend to fall afterward? We compare 5-day changes in Ja…

September 9, 2026

Stronger Yen = Weaker Stocks, Weaker Yen = Stronger Stocks? Testing USD/JPY and the Nikkei 225

A stronger yen is often seen as a headwind for Japanese stocks, while a weaker yen is viewed as supportive. But what does the data show? We test the relationship between USD/JPY’s 1-day change and th…

August 17, 2026

How Do Rising Japanese Interest Rates Affect Stocks? — Testing EWJ with Data

Rising rates are often seen as a headwind for stocks. Our EWJ factor analysis suggests a more complicated relationship.