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In Tokyo today, Bank of Japan Governor Kuroda admitted he couldn't rule out the risk of inflation dipping below zero. Kuroda blamed falling energy prices for the latest sluggishness but insisted consumer prices will pick up in the second half of this year. But what happens if it doesn’t? The BoJ is already expanding the monetary base at a rate 80 trillion yen, it's not clear how even more stimulus can help move the dial.
You have to go back to before the financial crisis in 2008 for when the Shanghai Composite was this high. The Index added another 1.6 percent in Asian trading to close at the highest level in over 6 years. The rally has been absolutely stunning, climbing over 70 percent in just 12 months.