When we look at investment, it appears to be structurally too low. The political tension will hold down the Taiwan dollar too.

We look closely at the investment styles, narrowness of the market – the extent to which a handful of stocks drive the whole market – and market inflections.

Overage in the quarter (was) mostly due to very strong investment banking results, particularly trading, and good expense control,

When we look at the economic fundamentals in Japan, and how they've unfolded in the last six months, we're clearly seeing an economy that is growing above potential.

It's unambiguously good news for Japan. It signals the dark days of deflation are behind us.

These reports are clear evidence that the consumer caution that drove the slowing in the economy in the second half of 2005 is on the wane.