I know this seems a bit silly but...
Under the current rules do items provide a continuous effect or an ongoing effect?
Under Duration of Effects
Continuous effects are those found in non-triggered traits. Item bonuses are not from a trait. (After a card’s keywords come its traits.) http://rules.l5r.com/Card_features#Traits
Instantaneous effects involve a change in the game state that is officially recorded by changing the position, orientation, or count of a physical game element. I know attaching the item is instantaneous, but its stat modifiers don't physically change the state of anything...
Ongoing effects are those that are not continuous or instantaneous. These may be thought of as “virtual” effects because they are not officially recorded with a physical game element; for example, giving stat bonuses or penalties, granting keywords, or putting a condition on a card such as “can not assign.” It seems like the item itself records the bonus (its not virtual), but then again item bonuses don't fall into the preceding categories either. This would mean item bonuses disappear at the end of the turn (since no duration is listed in the rulebook).
A similar arguement could be made for token bonuses although they have the equally mystifying: A token conveys its stat modifications to any card or Province it is on. http://rules.l5r.com/Non-card_physical_game_elements
Which sounds like a continuous effect but doesn't come from a trait.
Props to Bayushi Loïc for seeing this one .
Also not being able to use quotes is really annoying .