Blackrock Investment Institute (Blackrock Investment Institute) overfits short-term US debt and believes that as interest spreads between the US and Japan narrow, the pressure on the yen will ease. The team led by Jean Boivin and Wei Li wrote in a report: “We think the divergence in monetary policy is driving the decline in yen, but we don't think this pressure will continue.” They wrote that a weak yen is unlikely to end the upward trend in the Japanese stock market, and “given the opportunities brought about by ongoing corporate reforms and structural changes, we continue to overbalance Japanese stocks.”