Japanese asset buying seems to be working

Good performance over the past month among Japanese equity indices suggests that the Bank of Japan’s unorthodox moves to buy assets is having an impact. The decision to buy assets was announced in October and is intended to help Japan defeat deflation within two years. The first step was clarified on November 5, when the BoJ announced its purchasing schedule. The ¥5 trillion ($61 billion) plan includes buying real-estate investment trusts, exchange-traded funds and corporate bonds, as…