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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (1900)	4/21/2003 11:09:16 PM
From: Les H	Read Replies (1) \| Respond to of 49353

Signs that Koizumi's reform effort is a dud quote.bloomberg.com New Bubbles Appear -- Daiei Inc. is still alive -- sort of. In the dictionary, next to the word ``zombie,'' there should be a mention of Daiei, Japan's most indebted retailer. It received no less than two bank bailouts last year to avert collapse, and it's still failing to achieve targets for sales never mind profits. That Daiei is still around, living handout to handout, shows Japan Inc.'s restructuring is stuck in first gear. -- New financial bubbles are popping up. The bond market bubble has been building for years, and the Koizumi years added even more air. Ten-year bond yields, 1.33 percent when Koizumi took office, are down to 0.61 percent. It seems a new bubble is being created in the Tokyo real estate market, which is seeing a commercial building boom despite a nine-year low in office rents. More than 23 million square feet of prime office space in new buildings will be completed this year. Such a glut has property brokers buzzing about the ``2003 problem.''