by Martin Armstrong
A little overdue but today we heard from the Bank of Japan and possible proposals to take rates even further negative and the likelihood banks passing these levels on to end retail. The Nikkei obviously liked it rallying 1.2% on the day whilst the Yen weakened over 2%. Both the Shanghai and HSI had mixed responses as most continue to talk Japan. The Nikkei’s rally was a great effort considering Mitsubishi Motor stock fell over 13% again today (after a 20% decline Thursday) after they admitted cheating on fuel economy test results.