Hey guess what – Abenomics is starting to work

The latest data from Japan indicates a society that is beginning to buy in to the New Nippon and Abenomics.

Check this out, from Wall Street Breakfast:

Abenomics got a vote of confidence from Japanese consumers in March as household spending jumped the most in nine years, while the jobless rate in Japan fell to a four year low. Spending rose 5.2% Y/Y, obliterating estimates of a 1.8% increase, as the wealth effect created by soaring stock prices fueled demand for cars and home repairs. The unemployment rate came in at 4.1% for March, better than the 4.3% rate forecast by economists.

I’ve been in this trade since January, it’s been tempting to take the gain but the price action trends seems to support a continuation. And now the economic data is starting to participate, which is nice.

Source:

Wall Street Breakfast (Seeking Alpha)

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The Japanese Buy In (TRB)

hat tip Ken S