Returned.

Good morning.

The momentum of the Nikkei average has returned, hasn't it?

The USD/JPY has easily broken through 161 yen, making the market easy to understand.

It would be nice if we could continue riding the upward trend and aim for 50,000 yen.

In the recent Tankan survey and GDP announcement, there was a feeling like 'Huh? Is the economy in Japan doing poorly??'

The results make us wonder, 'Is it okay to raise interest rates??'

Even though we are living, we cannot feel that the economy is improving, so the uncertainty about the future only increases.

At the very least, we would like the stock prices to rise and strengthen our defenses.