In Japan, stocks are modestly higher after the solid rally in the US.
The Japanese market is becoming pretty normal-acting in recent days following whipsaw action last week.
But the situation at the nuke plant is not going well.
The New York Times has a grim report on waning optimism at the plant, which notes that despite the electricity being connected to the reactors, it could take two weeks to make the necessary repairs. In the meantime, the fact that radiation in Tokyo is at levels dangerous to babies suggests that radiation is spreading beyond what scientists expected, raising the possibility that there’s a source of radiation leakage which isn’t being realised right.
One other market note: there’s still no noticeable market reaction to the Portugal austerity vote. The euro has regained back its reflex losses. We’ll have to wait until Thursday morning European bond trading to get a sense of what, if any, impact, there is.
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