Active Investing in Japan

* Nikkei 225 Stock Average: +178.03 (+0.99%) to 18,149.52; highest close since 2/27; ytd & multi-year set 2/26
* Nikkei 225 futures Osaka: +180 (+1.0%) to 18,200
* TOPIX: +15.45 (+0.87%) to 1,788.39; Advancers 1,236 x decliners 361 (unchanged 135); new highs 119 vs. new lows 6
* Jasdaq: +0.75 (+0.91%) to 83.21
* USD/JPY ~123.5 at 4.5 yr low; near all-time low vs. euro; 16-year low vs. AU$

This is so good we have to post it even though it was reported in the media a few days ago.

By now everybody is talking about the rising yields of bonds and as a result mortgages — definitely not a positive development for an already weak U.S. real estate market perhaps induced and now exacerbated by struggling home owners with ARMs expiring.

Anyway, Reuters reported Greenspan was asked at a commercial real estate investor conference whether he was worried about China selling off a portion of its Treasury holdings and pushing rates/yields even higher.

Greenspan’s response partially paraphrased from media reports: “I wouldn’t be (worried), no.” Because China wouldn’t have anyone to sell to. (emphasis added)