Just when we thought that today would be about the French vote of confidence Japan has rather stepped forward. Along the way it has confirmed one of my themes as it received some better economic news. Japan’s economy expanded in the three months through June, the government confirmed in a revised report, as data for private consumption were revised higher. Gross domestic product grew at an annualized pace of 2.2% last quarter, the Cabinet Office said Monday. That exceeded the initial estimate of a 1.0% expansion. The median forecast among analysts had called for no change from the preliminary reading. ( Bloomberg) ... (full story)