Stocks Slide After Japan’s “Helicopter Money” Plan Leaks, Underwhelms

from Zero Hedge

At the same time that the Nikkei released its latest “market response” trial balloon, where it posted an article around 2am local time clearly meant for US market consumption according to which BOJ officials “were said to be leaning more toward easing”, the same Nikkei also published a preview of what Japan’s helicopter money may look like. There is just one problem: at first read, and judging by the market’s reaction, it appears to be rather underwhelming.

As the Nikkei reports, “the Japanese government has proposed distributing 10,000 yen ($95) or more to low-income individuals as part of an upcoming plan for jump-starting economic growth.”

Other proposals include a minimum-wage hike of 24 yen, or about 23 cents which would still be the most ever, to 822 yen an hour in fiscal 2016 as well as cutting the premiums that workers and their employers pay into the unemployment insurance program. The government submitted the outline to ruling coalition lawmakers Tuesday.

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