Japan leaves zero rates. After thirty years, Japan has inflation, wage growth, rising rates, and a stock market at record highs; the yen carry trade unwinds in stages.
Scaling Compounding now. Evidence is visible in company results and data. Largest effect expected 2024–2032.
Second-order effects
Japanese capital comes home from US Treasuries; global funding costs rise; Japanese equities re-rate on governance reform; the model for an ageing economy's exit from stagnation is tested.
Its neighbourhood
Everything this entry connects to directly. Click any point to follow it.
Frictions it intensifies
These pressures get worse, or reach more people.
Solutions it accelerates
Solutions it threatens
Sectors it reshapes
How to track it
If this trend is real, these are the numbers that will show it first.