Japan is crashing again.
The Nikkei is off 5%!
USDJPY (the dollar against the yen) is down to 95, which indicates significant yen strengthening.
Not only is this a remarkable turn events for the Japanese market, but the long Nikkei/short yen trade has been one of THE trades of 2013 so far, so this is a brutal kick in the arse for hedge funds and speculators.
And it’s clear the bloom is coming off the rose for Abenomics (to some extent) the monetary stimulus shock treatment designed to get Japan out of the doldrums.
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