Flash: Abe gives third strategy speech - Nomura

FXstreet.com (Barcelona) - Nomura strategist Yujiro Goto notes that Japan´s Prime Minister Abe gave his third speech about growth strategy as scheduled, but there were no positive surprises amid elevated expectations.

He did not mention the plan to review portfolio management of public pension funds, but the idea was included in the draft growth strategy from the industry competition council held after this speech. Goto notes that the special committee, which is likely to be chaired by Professor Takatoshi Ito, will start discussing pension funds' portfolio management in July and the committee is likely to finalize the idea this autumn, according to Reuters. He writes, “The time schedule is not so impressive, while the mid-term impact on the market will be significant as the review is likely to encourage pension funds to shift from risk-free assets into risky assets.”