Japan Archive

Trade, factory orders, rail traffic, Japan PMI

Imports and exports both down. Note the last two time this happened in any magnitude sort of match up to the last two recessions: February 2015 Trade Data Shows a Mixed Picture of the Economy By Steven Hansen Written by Steven Hansen A quick recap to the trade data released today shows ...Read More

JPM, MS Q1 revision, Fed labor market conditions index, German exports fall, Japan GDP

From JPM: In light of the data we’ve received this week – January reports for real consumer spending, construction spending, and net exports that varied from disappointing to downright weak, as well as a softer February print for car sales –– we are marking down our tracking for annualized real GDP growth ...Read More

Japan trade surplus, US household loan growth, Jobless claims

More US consumption of imports indicated here as well as with US trade data, as US growth continues to get downgraded post oil price collapse: Japan’s annual exports jump most since late 2013 in boost to economy Feb 18 (Reuters) — Japan’s annual exports in January jumped the most since late 2013. ...Read More

Japan etc.

The 10 year note in Japan closes below .3%- that’s what happens when you have the largest deficit in the world… ;) And note the yen has gone from just under 80 to the $ not that long ago to just over 120 recently. That’s over 50%, about the same as the ...Read More

Housing starts, Japan discussion, China, US pmi, store sales

Looks bad to me. Remember, for GDP to grow at last year’s rate, all the pieces on average have to contribute that much. And, as previously discussed, hard to see how starts and sales can grow with cash buyers and mtg purchase apps declining year over year. The charts look like we ...Read More

Japan rate update, Empire manufacturing

‘The market’ sure doesn’t seem to think rates in Japan are going up after decades of 0 rates: This survey just turned radically: New York state manufacturing index lowest in two years: NY Fed Dec 15 (Reuters) — Manufacturing activity in New York state contracted for the first time in nearly two ...Read More

Japan’s ‘bad inflation’

The Next Stage of Abenomics Is Coming – Shinzo Abe (WSJ) My highest priority as Japan’s prime minister remains the economy… Make no mistake, Japan will emerge from economic contraction and advance into new fields and engage in fresh challenges…Some have said that Japan’s structural reforms—what I call the “third arrow” of ...Read More

Japan- currency depreciation policy ‘bad’ inflation for households, good for exporters

Japan’s household spending falls 3.0% in June July 29 (Kyodo) — Average Japanese monthly household spending fell a price-adjusted 3.0 percent in June from a year earlier to 272,791 yen. The average monthly income of salaried households came to 710,375 yen, down 6.6 percent in real terms. Household spending rose 1.5 percent ...Read More

Abenomics= ‘bad’ inflation

Squeaking By on Abenomics By Joseph Sternberg July 2 (WSJ) — Preliminary data show cash earnings, including bonuses, rising by 0.8% year-on-year in May. Base pay increased 0.2%, its first rise in around two years. This looks like the “wage surprise” Japanese workers’ purchasing power fell another 3.6% year-on-year in May, after ...Read More

Abenomics Spurs Most Misery Since ’81 as Senior Scrimps

As previously discussed, it’s a case of ‘bad inflation’… Abenomics Spurs Most Misery Since ’81 as Senior Scrimps By Isabel Reynolds and Chikako Mogi June 6 (Bloomberg) — Mieko Tatsunami finds Prime Minister Shinzo Abe’s drive to reflate Japan’s economy hard to digest. “The price of everything we eat on a daily ...Read More