If the further away from USDJPY 105-110, the latest BOJ "soft target" on the pair, we go, the weaker the case for Abenomics, than we wouldn't be surprised if Japan's marionette PM, whose only bidding was to reflate global stock markets, price stability, quality of Japanese life and soaring import costs, be damned, is about to see an escalation in bathroom runs, leading to yet another disgraced exit [5], hopefully his final this time, from Japanese politics. And with that the great Japanese reflation experiment will end. Nikkei futures continue to fade - getting closer and closer to the 20% correction that marks the start of the Japanese bear market. In the US, everyone's favorite ETF - homebuilders - are now down 7.4% from Friday morning.
[6]
and the Nikei 225 is getting close to bear market territory...
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