ALBERT EDWARDS: Watch Japan -- It's A Much Bigger Story For Markets Than The Fed

"Japan matters," says Société Générale strategist Albert Edwards in his latest note to clients. Developments in Japanese economic policy are so important, according to Edwards, in fact, that they "could accelerate the trend towards lower U.S. bond yields, whether or not the Fed tapers." The Federal Reserve is considering winding down its third round of quantitative easing. When it finished the previous two rounds, Treasury yields fell. "My own view is that the end of QE3 will bring exactly t...