Results for “Merrill Lynch (Japan”

rebuilding of Europe and Japan) may not be repeated

leading to rising pressure for the Bank of Japan to engage in further

Japan; the Japan Securities Dealers Association; and the Type II Financial Instruments Firms Association. The product/service may not be offered or sold

simple average of past 43 quarters) — Japan equities have outperformed during bear-steepening led by

of which the majority are from financial institutions with Japan

and lay the foundations of Japan’s recovery.

it seems fair to assume that Japan will be expected to

in Yamaguchi prefecture; and third a potential trilateral summit between Japan

the Japan equity market saw continued preference for deflationary stocks

Japan equities tend to be the winner on a local currency basis

banks and insurance stocks (Exhibit 4). Resurgence in the “Japan macro trade”

but any downward spiral in Japan-US relations would likely be further

we expect Japan to move closer to Europe under

raising the incentive to sign the Japan-EU EPA (Economic Partner

we expect Japan’s spending on defense to increase. If this results in higher