Japan futures show resilience in the face of global equity softness. Analysts point to local pension fund allocations into index futures as a stabilizing factor, with historical correlations indicating reduced downside risk during such flows. Which means credit is produced , as opposed to created by the Fed, or banks, or any other entity. Notable about the surge of AI-related investment is that it occurred amid 525 basis points of Fed rate increases, and it continues amid what some deem to this day a “tight” Fed. It’s all immaterial, as was the Fed’s role in the 1930s immaterial. Loans and investment aren’t an effect of an “easy” or “tight” Fed (economists are generally aware of the folly of price controls), but of people and ideas. If the people and ideas are great, investment will surge. Forex Statistical Arbitrage Made Simple: A No-Code Playbook Nikkei 225 futures have maintained tight spreads, reflecting an orderly trading environment. This stability often precedes directional moves when key catalysts, such as earnings season, come into focus.