It's just on a fortnight since the terrible earthquake, tsunami and nuclear crisis shook confidence in Japan and world markets, and you'd be entitled to think that all is right in the world.

Share prices have bounced back, commodity prices have firmed and risk aversion has again been relegated to the backburner.

But Japan weakened yesterday after early strength.

The Nikkei fell in late trading on reports that higher-than-allowed levels of radioactive iodine had turned up in Tokyo drinking water.

The index fell 1.7% to 9,449.47 after the Tokyo city government warned infants from drinking water.

So we saw yesterday that in Japan there's no confidence, like there is in offshore markets that the worst is over.

While the situation improved at