October 31, 2022 | Daily JAM |
It’s certainly a novel take on fighting inflation. On Thursday, the government of Japan announced $197 billion in new stimulus spending. And the Bank of Japan said it has no plans for an early increase in interest rates. The overnight interest rate at the Bank of Japan is at negative 0.1% and the bn k continues to keep the yield on the 10-year bond at 0%. This isn’t the traditional way to fight inflation, which in September ran at 3% in Japan.
January 9, 2013 | Daily JAM, Morning Briefing, Short Term |
One day doesn’t a rally make, butfter sagging for two days, shares in Japan and China are up today. The Shanghai Composite Index was down 0.03%, essentially unchanged. Today’s action re-enforces my belief that the decline in the first two days of the week was the normal pause that follows on a big advance like that recorded by the Tokyo market since the nid-December election.
December 27, 2012 | Daily JAM, Morning Briefing, Short Term |
I’m not sure I’d bet the rent money on these markets staying uncorrelated with U.S. market trends in fears over the fiscal cliff surge, but the ability of Japanese and Chinese stocks to move up in the last few days while U.S. stocks sagged on fiscal cliff worries speaks to how powerful the stimulus story is right now in Japan and China.
