Typhoon Man-yi has been battering Japan overnight with winds of over 100mph, flooding and evacuations in some areas, (260,000 in Kyoto, more in Shiga & Fukui).
As if things couldn’t get any worse at Fukushima this could be catastrophic with early reports suggesting that a dam of a tank has already overflowed due to high rainfall. Right or wrong, the plant remains highly vulnerable and its clear to anyone who has been following events there since the 2011 earthquake that Tepco are utterly incompetent and the fuel rods continue to present a real threat not just to the rest of Japan but to neighbouring countries and beyond.
None of which is factored into markets at any level. For the sake of those living in Japan I hope the typhoon passes without incident but the margins of safety remain extremely precarious.
Unfortunately, absolutely nothing we have seen at any level in that country in respect of facing up to the disaster so far should give us any confidence. Oh and by the way, they can forget about the 2020 Olympics, that simply won't be happening anywhere close to Japan.