More from the Nikkei overnight, the title to the post says it all rally ... and won't be a surprise to many

  • With just one year to go before the end of his term, the odds appear to be against Bank of Japan Gov. Haruhiko Kuroda delivering on his 2% inflation target

(Kuroda's term finished in April 2018 ... there has been plenty of chatter of a 2nd term ... no news on this though).

  • The consumer price index, which excludes fresh food and the effect of the consumption tax hike, inched up 0.1% in January ... the first positive reading in 13 months and came despite retailers cutting prices
  • The slight CPI rise is attributable to the recent oil rally
  • A weaker yen also helped

(Both of these effects are fading ... indeed reversing in recent weeks)