The Traderszone Network

It’s a miracle… The Vatican’s economy minister has said hundreds of millions of euros were found “tucked away” in accounts of various Holy See departments that were previously not counted on the city-state’s balance sheet. “In fact, we have discovered that the situation is much healthier than it seemed,” noted Australian Cardinal George Pell, adding that “it is important to point out that the Vatican is not broke.” Indeed a miracle – like hookers-and-blow in GDP data?

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Kelvin Taym, MD & Regional CIO, Southern APAC at UBS Wealth Management, says the Bank of Japan has to weaken the yen so it can compete with European exports.

Remember when that absolute disaster of a Q3 GDP print hit Japan and the world of talking-heads proclaimed… “yeah, but.. capex revisions and stuff and things will make it all better” or some such nonsense? Well that’s exactly what it was – utter nonsense. Going entirely the opposite direction to expectations of a revision up to -0.5% QoQ, Japanese GDP was revsied even lower to -1.9% QoQ (from -1.6% QoQ initial) confirming the quadrupled-dip-recession.

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Japan’s economy suffers a heavier contraction than initially reported for the July-to-September period, revised data show, serving as a bitter reminder to Prime Minister Shinzo Abe that the nation’s economy remains in the woods two years after he came into office.
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Submitted by Thad Beversdorf via First Rebuttal blog,

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Japan’s economy shrank more than initially reported in the third quarter on declines in business investment, data showed on Monday, surprising markets and backing premier Shinzo Abe’s recent decision to …

Asian stocks eked out gains on Monday in wake of much stronger-than-expected U.S. employment numbers, although sobering data highlighted the sluggishness in the region’s key economies and tempered gains. …