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Daily Kickstart (Is It Friday Yet Edition)

Well it looks like mostly red screens this morning and you have to suspect that after coming within 15 or so points of the Jeremy Siegel promised land last week, the Dow may end the year short of 20K. The first thing I saw when I rolled over and checked markets on my phone at 4:45 Thursday morning was the USDJPY lower by around 0.8%. I didn't even have to look to know what that meant for Japanese equities. Sure enough the Nikkei is off more than 1%. Toshiba's epic plunge didn't help matters. The Topix looks set for its first yearly loss in half a decade. Where's the Kuroda plunge protection team when you need them, right? Speaking of Kuroda, here's what the BoJ governor told Nikkei on Thursday: "We're still not in a place where we can say we have escaped deflation, or that we can achieve the 2% price stability target." So basically all that easing has amounted to nothing - or next to nothing. Oil could be under a bit of pressure after Wednesday's API report which showed US stockpiles rising 4.2 million bbls last week. European shares are mixed with an apparent bias to the downside on around half their average volume. The reality is, no one knows what comes next. We're sailing
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