Asian Markets Boom After Better-Than-Expected Japanese GDP

More risk on tonight…

Japanese GDP shrunk by 1.3% last quarter, which is much better than the -2.6 analysts had expected. Update: This breakdown of Japanese GPD makes it seem a little bit less than good than you might expect. One major positive driver of GDP was domestic TV demand, owing to a mandated digital switchover. And a 4.9% decrease in exports was the largest since Lehman.

The Nikkei is up 1.5%.

chart

Meanwhile, the dollar continues its ascent against the Franc.

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