Finance minister Takatsu is locked in combat with a US female hedge fund manager who is planning massive sales of Japanese government bonds, in an instalment of a popular manga comic, Golgo 13. The finance minister looks uncannily like Taro Aso.
Life is now imitating art. Manga-fan Aso has pinned his government’s credibility on achieving a primary budget surplus by fiscal 2020, helped in large part by record-low servicing costs on the national debt.
But the markets are not helping. As US interest rates climb they are dragging Japanese rates up with them and investors smell blood in the water.