Potemkin on the Pacific

By |2015-04-22T15:01:13-04:00April 22nd, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

For the first time since June 2012 Japan has attained a trade surplus. It is, however, premature to interpret that as an end to the impoverishment the island has undertaken these past three years, the last two under QQE. There are various reasons for the end of the negative trade imbalance, but the most significant surround the Chinese New Year. [...]