Where is GZERO’s signature political angle on this story? The first stock market to surge on this news was the Japanese Nikkei index, which climbed 2.2% higher to break its all-time highs set in late 1989 (!).
OK, “Japan is back” enthusiasm is limited by news this week that its economy fell into fourth place behind Germany with a disappointing Q4 from last year. There’s also the reality that topping this previous high reminds Japan and the world just how tough the past third of a century has been for its economy.
Still, good news is good news, and Fumio Kishida’s deeply unpopular government can use all the good news it can get.
This is also a welcome development for the US economy at a time when President Joe Biden badly needs it. On Thursday, US stocks posted their best day of the year so far, with the NASDAQ closing up nearly 3%.
