|Tokyo Stock Exchange (Wikimedia/Stéfan)|
Being a contrarian on Japan's lost, deflationary decades, has to work out at some point. On Yahoo's Breakout yesterday, Marc Faber called Japan "a lifetime buying opportunity" once the correction ends (10-15% downside and 100-200% upside). It will be hard to time, but a good guide will be to watch the long term structure of the Nikkei chart. Did the recent black swan event bring the lifetime buying opportunity closer to (or further from) reality? For example, "Analysis: Japan heading back into recession" (Susumu Kato, Credit Agricole via Reuters h/t StockJockey). Or will another external event, China for example, affect Japanese equities and credits. See Hugh Hendry's CDS bets. Kyle Bass, hedge fund manager at Hayman Capital, also has interesting views on JGBs, the Yen and Japanese stocks. The charts below are courtesy of ForexPros and FuturesPros.com. Links to JGB rates point to Bloomberg.com.
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Links to Japanese Government Bond Yields at Bloomberg.com
Japan 3-Month Bill Yield
Japan 2-Year Government Bond Yield
Japan 5-Year Government Bond Yield
Japan 10-Year Government Bond Yield
Japan 20-Year Government Bond Yield
Japan 30-Year Government Bond Yield