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4 Dec 2014
Abenomics proving to be unpopular in Japan – BBH
FXStreet (Guatemala) - The Brown Brothers Harriman Team, find the newspaper survey results pointing towards a clear LDP victory as suspicious, with the foreign press stressing on an unpopular Abenomics scenario in Japan.
Key Quotes:
“The weaker yen helped, but the market also appears to have been encouraged by a series of newspaper surveys showing that rather than lose seats as appeared to be the case, the LDP may gain in the December 14 snap election.”
“The polls consistently show the LDP could pick up six seats to give it 300 of the 475 seats in the Diet”
“We are somewhat suspicious. Abenomics in not very popular and what is often not picked up in the foreign press is that the opposition parties are coordinating activity in many of the constituencies. Voting in the lower house election is a bit more complicated than many may be aware.”
“A Japanese voter casts two ballots: The first is for the representative of the constituency. There are 295 such constituencies. The second is for the party for the proportional representation. There are 180 such seats. Lastly, we note that turnout is also key. A low turnout seems to favor the LDP. In 2012, when the LDP won, it received fewer votes than when it was defeated by the DPJ in 2009”.
Key Quotes:
“The weaker yen helped, but the market also appears to have been encouraged by a series of newspaper surveys showing that rather than lose seats as appeared to be the case, the LDP may gain in the December 14 snap election.”
“The polls consistently show the LDP could pick up six seats to give it 300 of the 475 seats in the Diet”
“We are somewhat suspicious. Abenomics in not very popular and what is often not picked up in the foreign press is that the opposition parties are coordinating activity in many of the constituencies. Voting in the lower house election is a bit more complicated than many may be aware.”
“A Japanese voter casts two ballots: The first is for the representative of the constituency. There are 295 such constituencies. The second is for the party for the proportional representation. There are 180 such seats. Lastly, we note that turnout is also key. A low turnout seems to favor the LDP. In 2012, when the LDP won, it received fewer votes than when it was defeated by the DPJ in 2009”.