Abenomics, it’s working!
(For those who still don’t know what Abenomics is, it’s the new shock stimulus from new Prime Minister Shinzo Abe, who is using fiscal and ultra-aggressive monetary policy to juice the economy).
So far that’s hard a remarkable effect on financial markets. The yen has been felling hard, the Nikkei is easily the hottest stock market in the world.
And now the economy seems to really be humming to life.
Check out this awesome growth in machine tools, a key part of the Japanese manufacturing story.
#Japan March Core Machinery Orders +14.2% On Month; Expected +2.5%
— DJ FX Trader (@djfxtrader) May 16, 2013
That’s just one datapoint, though yesterday there was GDP, which came in at an annualized growth rate 3.5%, faster than folks expected.