The Aussies did it with their employment data (and then admitted it), and now we see Japan’s Economic and Social reserch Institute post the most ridiculous macro print ever. Over 4 standard deviations from expectations and almost double the highest expectations, Japan Machinery Orders spiked 15.0% MoM – the biggest since Jan 2003.
Up 15% MoM versus expectations for a 1.9% rise… the biggest beat since Feb 2009 (oddly coincidental given everything that is going on)
Core machine orders Rise 8.4% y/y; est. -3.8%, Cabinet Office announces figures in Tokyo.
Some context…
We presume this means that Japan is “fixed” and there will be no need for additional extraordinarily idiotically experimental monetary policy this week?
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