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In Japan, stocks (EWJ) come off a long weekend well-rested and promptly rally to near five-year...

In Japan, stocks (EWJ) come off a long weekend well-rested and promptly rally to near five-year highs as the Nikkei surges 3.55% on the back of Friday's strong U.S. jobs data. Meanwhile, Australia's central bank cut rates by 25 basis points, sending the aussie (FXA) down 0.6% to two month lows against the dollar.
Comments (5)
  • Japanese stocks, on a p/e basis, are overpriced as compared to NA stocks. The stock market has surged based upon expectations, not based on earnings. The stock market will correct when more companies post earnings.
    7 May 2013, 09:05 AM Reply Like
  • AUS joining QE party . They are a commodity driven economy; this is good for commodities and Emerging Markets.
    7 May 2013, 09:46 AM Reply Like
  • Amazing what printing money can do in the short term. It's the long term problems I am concerned with. Were dancing with the devil worldwide !!
    7 May 2013, 01:14 PM Reply Like
  • Jens O Parsonns talks about this in Dying of Money. Keynesian central bankers only see the short term benefits of devaluing the currency.
    7 May 2013, 04:17 PM Reply Like
  • Dying Of Money is a superb book.
    8 May 2013, 12:57 AM Reply Like
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