Macro Report: Japan’s Policy Is Setting The Stage For The Next Crash

The largest exporter of capital to the global economy is approaching an inflection point

Macro Report: Japan’s Policy Is Setting The Stage For The Next Crash

I think Japan is sliding into a macro setup that is no longer sustainable. In this note, I lay out the pressures building under the surface and what I’m watching for. If these imbalances start to unwind, I plan to run substantially more risk in Japan this year.