Define irony. Literally hours after financial entertainment outlet CNBC wrote an article in which it said that “As fourth quarter kicks off, there’s one market in Asia that has investors excited: Japan” the Nikkei crashed.
First, some more humor from CNBC, which quotes JPM who apparently does not realize that crushing your currency to generate nominal gains is a zero sum game, and instead of pitching Japan as the next big thing, he should be focusing on the “upside” in Venezuela or Argentina: