Data is here: Japan data – BoP Current Account Balance for May: Y +522.8bn (vs. expected ¥ 417.5B)
Wall Street Journal take on today’s result:
- Current account surplus for the fourth straight month in May
- May allay concerns about further current account deficits (Some economists worry that a sustained deficit would force Japan to rely on capital from overseas to finance its debts, pushing up bond yields as overseas investors demand a premium. That could also make financing the nation’s public debt—now worth over twice the size of Japan’s economy—difficult.)
- Tuesday’s data showed that Japan’s trade deficit, the main factor weighing on the current account, shrank while income on investments from overseas was strong
Journal article is here (gated): Japan Current Account Surplus Eases Concern
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Yep. brighter news for Japan.
I posted this last week: Restart of two reactors nearing approval
As the nukes come back on line it will further reduce pressure on the yen an is a yen positive input.
