The Covid-19 experience in Japan has, so far, been different from that of most other developed nations, having not at any stage suffered a hard lockdown – the closest equivalent having been the two month States of Emergency during which restaurants and some shops stayed open until 8pm, offices remained partly staffed and children continued to go to school.
For the most part, Japan has exhibited the much-revered trait of gaman and done its best to "carry on". However, equity and bond markets in Japan have been moved by (sometimes Covid-related) external factors. IW Long Reads: Japan's Record-Breaking Q3 Growth Has Rest Of The World Playing Catch-Up The first two months of 2021 have seen spikes of speculative activity globally, in areas as diverse as crypto-currencies and zombie stocks, and the reappearance of ‘bond vigilantes' challenging the central banks in their efforts to keep bond yields low. Market pundits' views diverge widely...
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