Barclays estimates the earthquake will cost from 2.4 to 3.4% of Japan’s GDP. GMO says the stock market drop was an overreaction unless entire eastern half of Japan becomes uninhabitable. Federated thinks Japanese stocks may soon be a good buy. Janney, Montgomery, Scott notes that in 1995, the Nikkei dropped 25% after a quake and recovered by the end of the year. On a separate topic, in a Keefe Bruyette & Woods report on the performance of U.S. mutual fund families, T. Rowe Price shines and Janus is floundering.
Kyohei Morita and Yuichiro Nagai, Barclays Capital, Japan Economic Focus
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