Jared Dillian, Columnist

Investors Aren’t Prepared for an Exciting Japan

Nobody knows what might happen if the nation’s central bank starts to send hawkish signals.

July 30, 2018 at 5:00 PM UTC

Jared Dillian is the editor and publisher of the Daily Dirtnap. An investment strategist at Mauldin Economics, he is author of "All the Evil of This World." He may have a stake in the areas he writes about.

Shinzo Abe is starting to see economic gains.
Photographer: Behrouz Mehri/AFP/Getty Images

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Japan has, more or less, constantly been in the midst of the most radical monetary policy experiment in modern history since 2012. Is it working? It probably depends who you ask.

A brief recap: Abenomics (a program named after Prime Minister Shinzo Abe that combined ultra-loose monetary policy, flexible fiscal policy and selective deregulation to boost the economy) sparked an extreme form of quantitative easing that saw the Bank of Japan print yen to buy almost all of the $9.5 trillion in Japanese government bonds outstanding, as well as a huge portion of the equity market via exchange-traded funds.