Buffett makes a new bet on the yen

Buffett makes a new bet on the yenShares of major trading houses in Japan are full of optimism: Berkshire Hathaway Inc. (NYSE: BRKa) increased its stake to 7.4%. The Fund has begun issuing and selling its own yen-denominated bonds and continues to actively buy papers from leading Japanese companies.Recall: Kazuo Ueda headed the BOJ, and at the inaugural press conference on Monday, he tried to convince us that monetary changes are unlikely. However, yen corporate bond spreads are widening amid speculation about the coming tightening of policy.Berkshire surprised the Japanese markets in 2020 when it bought stocks in local trading companies following one of the largest yen bond trades in history. Now it is one of the largest foreign issuers.In an interview with Nikkei, the 92-year-old billionaire said he plans to hold several face-to-face meetings with business representatives and hopes for the initiative of new Asian partners. The interest of the American market gurus is a reliable signal of Japan's investment attractiveness.His interest in Japanese trading houses (sogo shosha) is understandable: these universal companies, thanks to their investments in development and production, bring everything from energy to products to the market. On Buffett's comments, shares of Mitsubishi Corp. rose by 3% (max since March 1), and there is a positive trend in Mitsui & Co., Marubeni Corp., Sumitomo Corp. and Itochu Corp. Even the Topix index showed an increase of 3.7%.It's not yet clear how long this speculative upswing will last, but Berkshire is offering wider tranche credit spreads in a new deal. Buffett never changes his strategy: he will invest in well-managed companies that he believes are undervalued. So keeping an eye on his current moves in the Asian market could be very profitable. Profits to yall!#ForexChief #Buffett #Nikkei #nyse #forexnews #stocks #worldnews #Market #stock #Berkshire