However, we were all too clear about the motives behind this proposal trial ballooned by Prime Minister Abe: appease Trump in any way possible during next week's, Feb. 10 meeting between Japan and the US, to avoid being labeled a currency manipulator (which Japan certainly is with a central bank balance sheet roughly the same size as its GDP) so that Japan's QE, the backbone of Abenomics, can continue. If that included make ridiculously impossible promises, so be it.

Which is why we were not surprised to read today that as the latest incarnation of the "Appease Trump" proposal, Japan is putting together a package it says could generate 700,000 U.S. jobs and help create a $450-billion market, to present to U.S. President Donald Trump next week, Reuters reports.

The focus is, once again, on US infrastructure investment only this time the GPIF does not feature among the sources of funds. The five-part package, to be unveiled when Prime Minister Shinzo Abe visits Trump on Feb. 10 in Washington, envisage investments in infrastructure projects such as high-speed trains and cybersecurity. Reuters cites sources "who declined to be identified as they were not authorized to speak to the media." Said sources could well be Abe himself, who is leaking random "plans" just to make sure Trump doesn't blow up at Japan again as he did earlier this week when he accused it of devaluing its currency, sending the Yen, and JGB yields, higher.