Japan's Liberal Democratic Party scored a decisive victory in the Dec. 14 parliamentary election, with voters demonstrating their overwhelming approval of Prime Minister Shinzo Abe's macroeconomic policy agenda.
Though voter turnout was relatively low, owing largely to the somewhat technical nature of the issues, the election's message was clear: Most Japanese abhor the prospect of a return to the grim economic trajectory that prevailed in Japan before "Abenomics."
When the first "arrow" of Abenomics — a fiscal stimulus program — was launched nearly two years ago, asset markets' immediate response was positive. The second arrow of Abenomics — monetary easing — intensified these effects.