Japan’s real GDP grew 1.1% in the second quarter. Q1 revised up to +5.4%. Spending was driven by capital spending, government spending fell. Supports my view that Japan turnaround is sustainable. My nameless advisor there, who I refer to as Fibonacci, agrees. Koizumi has called an election for September 11 (coincidence?). I like Japanesse stocks and own EWJ.
JR
