Japanese Trade Deficit Explodes To Record – No J-Curve Miracle In Sight

With exports up 9% but imports up a massive 25% YoY, Japan’s Trade balance pushed to its largest deficit on record. This is the 2nd largest drop in the trade balance on record – beaten only by March/April 2011 (the Tsunami and Fuskushima). The miracle of the J-Curve (the hoped for recovery in exports that will come any minute now from the devaluation of the currency) is simply non-existent!! We love the smell of GDP downward revisions in the morning… Foreigners sold Japanese stocks for the 4th week in a row for the first time in 16 months.

 

    



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