1.   Solomon said the weaker yen is likely to start weighing on earnings.

2.   The yen is weak and the dollar strong.

3.   An appreciating yen is good for US investors in Japanese stocks because it adds extra zip to their market gains.

4.   An excessively weak yen is a concern for Japan as it erodes the value of assets denominated in yen, and thus weakens confidence in Japanese markets.

5.   And because many companies have learned how to cut their costs at home, they can now be profitable even when the yen is robust.

6.   As that gap narrows, the yen is likely to appreciate against the dollar.

7.   Bank of Japan Gov. Yasuo Matsushita echoed that sentiment Thursday, when he told the newspaper Nihon Keizai Shimbun that the yen was unlikely to fall soon.

8.   A falling yen is good for manufacturers, enabling them to sell their products more cheaply overseas.

9.   A rising yen is not so much of a problem by itself as it is a symptom of a dangerously tight monetary policy.

10.   A rising yen is good for Japanese bonds, clearing away concern over imported inflation for domestic investors and improving the allure of Japanese bonds to foreign investors.