All of a sudden everyone’s obsessed with Japanese equities.
Now we all think the printing presses are creaking to life with a new inflation target of between 2 and 3%. And we all think this money printing – a last-ditch effort before the last of the Japanese workforce gets into adult diapers – will benefit the Nikkei’s stocks, specifically the shares of the big exporters.
Okay then.I gotta tell ya, in 15 years I haven’t seen so much excitement about Japan in my 15-year career. Probably because every rally has been a letdown, each breakout a false one.
But people are pumped. Traders, macro guys, you name it – people are freaking the f**k out for the Japan thesis.
Please read the following to get up to speed on the new new hotness…