Japanese bonds headed for the biggest weekly loss since January 2009 on prospects a government led by Ichiro Ozawa will increase debt-fueled spending and as better-than-expected capital expenditure data supported demand for higher-yielding assets.
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Comment: Japan is an example of how long irrationality can persist. Sometimes I fear it is forever. Yet then, suddenly, so it seems, sobriety stikes like a bolt out from the blue.
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