Japanese stocks are simply on a breathtaking hot streak to end the year, in part due to the expectations of ultra-aggressive monetary policy that’s been causing the yen to dive.
The Nikkei is up 1.3%, which is on top of two straight gains of nearly 1.5%. So That’s three days in a row of gains over 1%. Bigger picture, the market is up about 20% since mid-November. Stunning end to the year.
For more on the expectations of a watershed change at the Bank of Japan, see here.