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Futures Lower Overnight, Tokyo CPI Due

JGBS

Futures softened overnight after recovering during Thursday's Toyko trade, with no real bounce seen around the goings on in Afghanistan, leaving the contract -10 come the bell (we will see if domestic participants react to the geopolitical tension).

  • As expected, late on Thursday saw Japan's ex-Foreign Minister Fumio Kishida enter the leadership race within the ruling LDP Party. Kishida is expected to present the most serious challenge to incumbent PM & LDP Party leader Suga, although Suga has already secured the backing of a couple of powerful factions within the LDP.
  • Elsewhere, the Japanese government maintained its assessment of the economy in the latest monthly report from the Cabinet Office, even in light of the latest expansion of the area covered by the COVID-19 state of emergency.
  • The monthly Tokyo CPI report headlines the local docket today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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