The yen bears are out in force these days, thanks to the new prime minister's calls for aggressive monetary stimulus. Some of the bears have been prowling for a while. Jens Nordvig, global head of FX strategy at Nomura Securities, has been bearish on the yen since before Shinzo Abe was elected. But now that Abe is in office, and his calls for stimulus are having more of an effect on the yen than hundreds of billions of dollars of bank intervention, Nordvig is turning more negative. "Recent political developments imply that yen weakness will be more front-loaded than we had assumed 2-3 months ago," he wrote in a note ... (full story)