Japan’s core machinery orders, a leading indicator of capital spending, rose for the third straight month in August. Core machinery orders rose 4.7 percent on month in August, above expectations for a 0.9 percent increase in a Reuters poll and faster than July’s 3.5 percent increase.
“It’s good to see some of these Japanese numbers coming in better than expected. If you look at what they’ve done to their monetary policy, its three times the size of what we have in the u.S. Hopefully it’s going to work,” said Mark Okada, co-founder & CIO at Highland Capital Management.
“We want to see fiscal policy matching monetary policy… perhaps Japan gets to see that with the third arrow thing… but certainly I think long-term, it takes a long time for monetary policy to translate into job growth, wage pressure. these sort of things are what we’re experiencing in the U.S.,” he said.
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