Albert Edwards: China Deflating; Japanese Yen Breaking Down

A key point was absent from the mind of Societe Generale’s Albert Edwards as he was in Japan considering China’s first quarter gross domestic product numbers. He points out in a report titled “Finally! The yen breaks 30-year support – a new round of currency turmoil begins,” that the oddity of quantitative easing in Japan and currency markets that are starting to move. Albert Edwards: Confession is GDP deflator in China showing deflation Albert Edwards had “a confession to make,” he wrote in the June 2 cross asset research report. When China’s first quarter GDP came out he didn’t initially catch…