Stefan Worrall
Stefan Worrall
across bank debt forms interest japan last raises rates rise sharp surprise wants yields
A sharp rise in yields raises interest rates across all forms of debt. The last thing the Bank of Japan wants to do is to surprise the market.
adjustment areas asset broader bubble debts difference domestic driven economy excessive export exports growth main outside past playing time
The main difference this time is the restructuring of the domestic economy, playing down the excessive debts and other hangovers from the asset bubble of the 1980s, and those adjustments have been done. In the past we've had recoveries driven by export growth but no real adjustment in the broader economy in areas outside of exports and manufacturing.
economy fantastic
Japan's economy is back, and with a vengeance. This was a pretty fantastic year.
biggest demand domestic economy-and-economics external growth japan life moving normal support
Before, growth was reliant on the life support of external demand. Japan is moving back to a more normal economy, where domestic demand is the biggest driver.
changed changes itself market outlook regard sensitive shown
The market has shown itself to be sensitive to changes in sentiment. But nothing has changed with regard to the fundamental outlook for the economy, which is good.
boost capital companies interest investing monetary rates rise spending start
When companies think interest rates are going to rise they will start investing before that. So that can actually boost capital spending before something such as a tightening in monetary policy.
exports reflected seeing sharp turnaround
What we're seeing now is a very sharp turnaround in exports and this was reflected in the GDP numbers.
coming domestic economy expected finally global growth industrial months people production seen six solid straight stronger track turnaround
We've seen six straight months of industrial production expansion, a very solid turnaround in exports, stronger global growth than a lot of people expected and the domestic economy finally coming back on track in a very solid way.