Abenomics Is Dead - Japanese Data Collapses Across The Board
With recent JPY strength not helping, last week ended on a down-note for Japan as its jobless rate ticked up from 3.1% to 3.3% (the biggest rise since January) and Household spending collapsed. However, as the last week of the year begins, things have not improved as a double whammy of awfulness just hit the shores of Abe's nation with retail sales (worst since the tsunami) and industrial production ugly and missing across the board. We are sure, of course, that just one more dose of faith-based QE will fix this.
Household Spending has been a disaster...
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