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Japan's current account deficit surges

  • Japan's current account deficit widened to a record ¥592.8B ($5.7B) in November from ¥127.9B in October and surpassed consensus of ¥380.4B.
  • The increase comes amid a rise in the value of imports, particularly because of the weak yen, and higher demand for foreign energy because of the shutdown of nuclear plants.
  • The long-term risk is that the deficit could become permanent, which could weaken confidence in Japan's massive debt. That scenario is being held off by a surplus in overseas income.
  • The Nikkei plunges 3.2% in the first day of trading this week. The dollar rises 0.4% to ¥103.42 after dropping 1.1% overnight. (PR)
  • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JGBL, JPP, JPNL, JGBT, JPNS, FJP, JGBB
Comments (10)
  • sfphoto
    , contributor
    Comments (673) | Send Message
     
    Is this the beginning of the end?
    14 Jan, 09:10 AM Reply Like
  • omarbradley
    , contributor
    Comments (966) | Send Message
     
    yes
    14 Jan, 03:06 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (8335) | Send Message
     
    ...and it begins.

     

    I hope smart Japanese traded their JGBs for Western land/ real estate, blue chip equities and gold!
    14 Jan, 09:15 AM Reply Like
  • keentolearn
    , contributor
    Comments (128) | Send Message
     
    Japan is broken and money printing won't fix it.
    14 Jan, 10:35 AM Reply Like
  • idkmybffjill
    , contributor
    Comments (1585) | Send Message
     
    This is why they need to restart the reactors ASAP.
    14 Jan, 10:52 AM Reply Like
  • BarnDerk
    , contributor
    Comments (11) | Send Message
     
    This is also why we need smart energy policies here at home.
    14 Jan, 11:53 AM Reply Like
  • omarbradley
    , contributor
    Comments (966) | Send Message
     
    yes. "and we're well on our way" I think. the bankrupcty of the entire auto sector...let along the City of Detroit I think is the appropriate wake up call. Tesla is having a banner day...and that says to me all the others are a bunch of nobodies in our "Novus Ordo Seclorum."
    14 Jan, 03:08 PM Reply Like
  • thodoris91
    , contributor
    Comments (52) | Send Message
     
    RIP Abenomics. Designed to fail
    14 Jan, 03:06 PM Reply Like
  • sfphoto
    , contributor
    Comments (673) | Send Message
     
    How about Bernankenomics? Designed to succeed?
    15 Jan, 04:11 AM Reply Like
  • thodoris91
    , contributor
    Comments (52) | Send Message
     
    of course not. printing designed to fail
    15 Jan, 05:19 AM Reply Like
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