Prime Minister Shinzo Abe’s success in reviving the world’s third-largest economy hinges on wages rising more than the Bank of Japan’s 2 percent inflation target, according to the investment strategist the premier has invoked as an authority on the country’s need for growth.
The Bank of Japan’s unprecedented monetary easing will fail in its goal of spurring 2 percent inflation, according to Takahiro Mitani, president of the fund that manages the world’s largest pool of pension savings.
Asian stocks fell after the yen strengthened and valuations on the regional equities gauge climbed to a six-month high, with investors awaiting U.S. job data this week that may provide further evidence as to when the Federal Reserve will reduce stimulus.
Almost 50 years after Ford Motor Co.’s first Mustang introduced Americans to the fast and affordable pony car, the automaker is counting on a new design it unveils on four continents tomorrow to spur global sales.
Toyota Motor Corp. and Nissan Motor Co. led U.S. sales gains for Asian automakers, topping analysts’ estimates with stronger-than-expected November deliveries that were buoyed by Black Friday shoppers.
U.S. stocks fell a third day amid concern an improving economy will cause the Federal Reserve to reduce monetary stimulus, while 10-year Treasuries advanced as the central bank bought debt. The pound climbed to near a two- year high against the dollar and crude oil surged.
Asian stocks fell, with the equity gauge excluding Japan posting its first drop in eight days, as signs the U.S. economy is strengthening fueled speculation that the Federal Reserve will soon start tapering stimulus.
Japanese stocks rose, with the Nikkei 225 Stock Average climbing to an almost six-year high, as the yen fell to the lowest since May versus the dollar after data showed U.S. manufacturing unexpectedly accelerated last month.