FLJP - Japan: Fall Like Germany Or Give Hope To The Rest Of The World?
Originally Published August 26, 2019
After trading overnight in Asia, Japan's government bond market is within a hair's breadth of setting new record lows. The 10-year JGB is within a basis point and a fraction of one while the 5-year JGB has only 2 bps to reach. It otherwise seems at odds with the mainstream narrative at least where Japan's economy is concerned.
Record lows in Germany, those seem to make sense. By every account, the German economy is in trouble. So obvious, even the notoriously frugal government is floating debt-stimulus trial balloons. And