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5min chapter
There's No Bull Case For Risk Assets
The Macro Trading Floor
The New Governor Is Probably a Very Practical Person
Japan is one of the big trade partners of China. The deal that's being manufactured between Toyota and its employees 5% nominal wage growth on top of an extraordinary sees seasonally adjusted bonus Meaning that this will likely take wage growth to the 6 to 6 and a half percent handle from the biggest employer in Japan. Currently we have service inflation running at Slightly more than one and ahalf percent in Japan That is obviously not sustainable if Toyota pays 6 and aHalf percent more to its employees. This is to me and a confirmation that we will see service inflation spilling over to Japan now Exactly as we've seen in parts of the West with the time like to the US and now Japan is the next target
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