Investors' reaction to the Bank of Japan's quarterly Tankan survey of business conditions, released ...
Investors' reaction to the Bank of Japan's quarterly Tankan survey of business conditions, released recently, neatly highlighted the evident desire to paint the most optimistic hue on any economic or corporate announcement forthcoming from Japan. Whereas the stock market and the currency appreciated in response to the improvement seen in business sentiment, albeit from a low base, the bond market also rallied, somewhat counter intuitively, largely in reaction to the disappointing forecasts for corporate capital expenditure. Similarly, the recent releases of poor economic numbers, and t...
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