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Futures Slightly Weaker, Light Local Calendar

JGBS

In post-Tokyo trade ahead of the weekend, JGB futures are slightly weaker, closing -4 compared to settlement levels. It was a quiet end to the week for US tsys, with no economic data or Fed speakers.

  • There is no US economic data of note today either. Market participants await details on this week's KC Fed Economic Policy Symposium in Jackson Hole: ‘Structural Shifts in the Global Economy,’ from August 24 to August 26 (schedule/attendees list is likely announced on the evening of the 24th).
  • Japan will raise the minimum hourly wage to an average of 1,004 yen ($6.91), exceeding the level proposed by a government panel, as inflation crimps consumers’ spending power. Japanese prefectures are set to boost the lowest pay by an average of 43 yen an hour for the current fiscal year, the labour ministry announced on Friday. The increase, the largest since records of wage rises began in 1978, will take effect in October. (See link)
  • This week the local calendar is empty until Jibun Bank PMIs on Wednesday.

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