- Exports likely to resume gradual rise
- Closely watching short-term interest rates
- Output likely to turn positive
- Commodity prices likely to continue rising gradually
- Long-term interest rates in Japan lower than other countries due in part to BOJ easing (that would do it)
- Hope price rise will be accompanied by economic growth
- Outlook for end of deflation remains intact
- No change to stance of keeping zero rates until price stability is foreseen
- Should not read too much into Japan debt cds moves
- Efforts for fiscal sustainability needed regardless of cds moves
USD/JPY very steady in early European trade, presently at 82.45. Talk of stops through 82.30 and 82.00. Sell orders still clustered up around 83.00. Buy stops through 83.15.
