The Chartonomist had the pleasure of watching Shinzo Abe speak at a conference yesterday. The Japanese premier, his excellency, was uber-bullish. If we all were in the same shoes as Abe, the Nikkei would not be lingering around 14,500 but would be closer to 20,000. The three Abenomics arrows of monetary, fiscal, and growth policies may or may not revitalize the economy but the exuberant confidence of Abe has certainly already triggered a change for Japan.
The big goal is for such sentiment to persist. Sentiment eventually drives the data and this gives some room for policy error, so long as the premier keeps positive. The risks are thus skewed to a Japanese recovery so long as the LDP stays at the helm, and Abe as the boat steerer. Unless, of course, he changes his attitude.
Shinzo Abe marches down the aisle to deliver his boisterous speech
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