Despite increasing the scope of QQE, it appears the most crucial part of Abenomics has been lost... speculative faith that Abe and Kuroda have a clue what they are doing. With JGB yields spiking higher and now CFTC net speculative positions in Japanese stocks bearish for the first time since 2012, it looks like time's up for the 2nd, 3rd, or even 4th arrow... When asked whether he was worried about this, Shinzo Abe replied urgently: "Depends" Chart: Bloomberg