In today’s briefing:
- Good Morning Japan |SPX Holds Key 4100 Level in Choppy Session Post CPI; EVs-Where Are the Japanese?
- Japanese Consumer Markets in 2023
Good Morning Japan |SPX Holds Key 4100 Level in Choppy Session Post CPI; EVs-Where Are the Japanese?
- OVERSEAS. SPX close flat and keeps the 4100 support; CPI inline but Rates higher; USD stronger as Fed Hawks back out; Telsa +7% Bullish Initiation; Boeing Again-massive India order.
- JAPAN. Nikkei Futures +0.5% vs Cash; USDJPY weakens to 133. 15; BOJ Governor designate nominated but with weak GDP print, don’t expect much chg ST; Massive ShareBuyback from Idemetsu Kosan
- DAILY NUGGET. Global EV Sales in 2022 was $388 billion, +58%YoY. Is this what it will take to get to Japanese OEM to step on the gas ?
Japanese Consumer Markets in 2023
- Japanese consumer households continues to face significant barriers to spending post-Covid although there are clear signs of higher spending on categories like luxuries.
- The biggest barrier is inflation, particularly in essential categories like food where there were 20,743 item price rises in the 11 months to November 2022.
- Although wages have increased, much of the bounty is going into savings rather than higher spending.
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