Japan’s biggest stock rally in a quarter century has been fueled by earnings growth that is three times faster than the world average, not just speculation Prime Minister Shinzo Abe will end two decades of deflation.
Traders of Japanese government bonds want the central bank to buy more short-term notes and to conduct purchases more frequently, according to Bank of Japan officials after a meeting with market participants.
The last time a dispute between Japan and China blew up in 2010 over eight uninhabited islands, the economic fallout lasted less than a month. This time, the spat is prolonging a recession in the world’s third-largest economy.
It was an elite band of graduate students that in the early 1970s attended intense economics sessions in a small, austerely furnished basement under the 15th-century lodge at All Souls College at the University of Oxford.