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Here's The Japanese Angle On Today's Big Selloff
U.S.markets are in the red this morning as markets fall into "risk-off" mode. "While the talking heads are pointing to EM again, I think Japan is a big factor," writes Dave Lutz, head of ETF trading and strategy at Stifel Nicolaus. "The Yen is jumping, as Japan’s inflation posts the fastest rise in 5 years, prompting people to pull back on bets for the BOJ to ease further." Japan's core CPI — which, as Lutz notes, is the bank's favorite price metric — jumped 1.3% in December. That beat economist expectations for the second straight month. "Although the figure is still below the central bank’s 2% inflation ... (full story)
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