Japan: Tankan suggests economy still struggling to lift-off - Rabobank

Michael Every, Head of Financial Markets Research at Rabobank, notes that in Japan the Q3 Tankan has presented another argument against the BOJ and government rumour that the economy is on the mend and inflation is set to pick up: the key business survey was only so-so at best.

Key Quotes

“In that regard, markets are still forced to wait and watch as they try to decipher when rumours of a fiscal shift from the government will happen; that's especially the case given that this would, in my opinion, be at least partial helicopter money given the starting size of the fiscal deficit and public debt levels. At that point, as it becomes clear what the eventual endgame is to "business as unusual", many things might suddenly look a screaming buy.”