The correlation between the Japanese yen and the Topix index has turned positive for the first time since 2005.
According to Odaily, The Kobeissi Letter posted on X that the Japanese market is making history, as the correlation between the yen and the Topix stock index has turned positive for the first time since 2005. This means that the yen and Japanese stocks are rising in tandem. Over the past year, the yen has appreciated 1% against the US dollar, while the Topix index has risen by 38%. Historically, this pattern typically appears during prolonged bull markets, such as in Japan from 1982 to 1990, Germany from 1985 to 1995, and China from 2000 to 2008.
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