Heirs to Abenomics distance themselves from the policy as markets force their hand.
Reflationism is a thing of the past, Japan insists, even as bonds and the yen suggest otherwise and remain weak and under pressure. The current administration argues that it’s done with Abenomics, the policy prescription championed by Prime Minister Shinzo Abe, and is taking a different approach. Prime Minister Sanae Takaichi has a record of making comments favoring aggressive spending and easy monetary policy, and the markets are on edge over the possibility that she might spend too much in an effort to support economic growth.
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