Bad news isn't even good news anymore in Japan. A sushi-boat-load of data this evening show once again that Abenomics is failing dismally. In no particular order... Large Manufacturing Index MISS (lowest in 9 months), Large Manufacturing Outlook BIG MISS, Large Services Outlook MISS, Small Manufacturing Index MISS, Small Manufacturing Outlook BIG MISS, and drum roll please... Tankan Large Industry Capex Outlook crashes to -1.2% (from +8.7%) - the lowest in 2 years (since Abewrongics was unleashed). The response... USDJPY and Nikkei are dumping...
So much for unleashing animal spirits... Capex outlook plunges...
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And bad news is no longer good news in Japan as investors lose faith...
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Charts: Bloomberg
