Today I am revisiting Japanese stocks but this time in a more optimistic mood.

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The trippy coloring, punchy shades of pinks, blues and yellows, reinforce the optimistic mood of spring 2012.

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From the moment the first model strutted on the BCBG Max Azria runway, you could already tell that fashion is in an optimistic mood.

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But the underlying message has not changed: the recovery is still fragile, and so is the optimistic mood we have seen in global financial markets since the start of 2012.

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The mood was optimistic: Construction of single-family homes climbed 18.5% in December from the prior year.

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The mood now remains cautiously optimistic but the Germans, who like to downplay expectations ahead of summits, are saying the talks will be "difficult and divisive".

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Yet the mood is anything but optimistic and upbeat.

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"Business mood which was unduly optimistic in 2007, is unduly pessimistic today, " the prime minister said in his address to an annual gathering of India's industry leaders, hosted by the Confederation of Indian Industry (CII), on Wednesday.

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For now though, the mood among young people is mostly optimistic.

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But the mood in aviation, especially among the aircraftmakers, remains optimistic.

ECONOMIST: Business travel