Having utterly failed to arrest Japan’s economic malaise since its inception, will QQE suit up once again now that Japan has officially entered its fifth recession of the past six years? From zerohedge.com:
Don’t look for Abe or Kuroda to fall on their swords. Because, while debasing the yen has obviously done nothing to fix the Japanese economy, it has done wonders for the Nikkei.And, if that story sounds familiar, turn to this morning’s Empire State Manufacturing report from the NY Fed. The latest miss (-10.74 vs expected -6.34) is the fourth monthly contraction in a row (most since the financial crisis) and the 9th of the past 10 months.
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