The case for the yen as a better hedge against an AI market shock

Bloomberg reports Goldman Sachs strategists see the yen as a more attractive hedge for procyclical portfolios than in recent years, though they say the global backdrop still points to further yen weakness. The Straits Times, carrying Bloomberg’s report, says the yen rose 0.9% against the dollar on October 22 during a tech-stock rout. Goldman says betting on the yen against the dollar should hedge broader growth weakness or an AI shock.