Japan

Just four days after the tragedy, in the midst of world panic, we told out clients to relax, that this tragedy would have short-lived economic implications, that for example equity markets would recover quickly. As we wrote these words, world equity markets were swooning, not sure of what to expect. We advised further that the pace of resuscitation would far exceed expectations.

This morning’s (Japan time) release of March Factory Orders blew through expectations, up 2.9% mo/mo from February for goodness sake.

Wonder any longer where the Japanese economy is going over the near term?

Robert Craven