Stronger Dollar and Higher Stock Prices on Expectations of Fiscal Stimulus from the Incoming US Administration
First written in FY2017-Q3. 3 of 5 entries say "Reframed", first in FY2018-Q2. Latest entry: FY2021-Q3.
Hodogaya Chemical moved to the "Worse" side of this theme in 2019, 6 years before the typical company in this theme (2025).
The whole theme swung hardest in 2021: 3 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2021-Q3ReframedAnnual report
「In addition, considerable uncertainty remains due to the continuing US-China confrontation and the impact of policies adopted by the new US administration, among other factors.」
The description of the US has changed from the previous focus on employment and monetary policy to uncertainty resulting from the US-China confrontation and the impact of policies adopted by the new administration. - FY2020-Q1ReframedAnnual report
「The US economy remains firm in the near term against a backdrop of favorable employment conditions, but uncertainty over the outlook has intensified, with the Federal Reserve suggesting a preemptive rate cut.」
The description has changed from the previous focus on expectations for US fiscal stimulus and policy challenges to a focus on the economy's firmness supported by employment conditions and uncertainty over the outlook following the Federal Reserve's indication of a rate cut. - FY2018-Q2ReframedAnnual report
「Geopolitical risks, particularly those involving North Korea, remain, while domestic challenges including tax reform are also piling up, leaving the outlook uncertain.」
The description of the US has changed from expectations for fiscal stimulus by the incoming administration and the resulting dollar and equity gains to political and economic uncertainty caused by a backlog of policy challenges, including tax reform. - FY2018-Q1Stagnation in policy progressAnnual report
「First, although tax reform and infrastructure investment by the Trump administration, which would contribute to the expansion of the US economy, have not progressed, the economy continued to expand moderately, with personal consumption remaining firm against a backdrop of increased employment and rising wages.」
The description has changed from expectations for fiscal stimulus by the incoming administration and the resulting dollar and equity gains to a statement that tax reform and infrastructure investment have not progressed. - FY2017-Q3First statedAnnual report
「In addition, after Donald Trump was elected as the next US president last November, expectations for the outlook of the US economy under fiscal stimulus by the incoming administration increased, resulting in a stronger dollar and higher equity prices.」
Expectations for fiscal stimulus by the incoming US administration, together with the resulting dollar and equity gains, are described as a new development in overseas economies.