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Recent Gains Considered Corrective


Trend Needle Points North Despite Recent Pullback


Trend Needle Points North Despite Recent Pullback


Late SOFR/Treasury Option Roundup

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MNI DATA IMPACT: Japan April Household Spending +1.3% Y/Y

MNI (London)
     TOKYO (MNI) - Japan's average monthly consumption expenditure per household
increased 1.3% on a yearly basis in April, a survey released by Japan's Ministry
of Internal Affairs and Communications showed Friday.
     --Spending by households with two or more people slowed to 1.3% y/y from
the previous month's 2.1% gain, posting the fifth straight y/y rise. The
increase came in lower than MNI's survey median of +3.0% y/y. 
     --April's slowdown was a result of contracting expenditure on major items
-- spending on housing fell 10.5% compared with March's 9.4% gain, which weighed
on overall expenditure by 0.59%, and fuel, light and water charges fell 3.2%,
deducting 0.25% of the growth.
     --The average real income of households with salaried workers decelerated
to 1.1% y/y from March's 1.4%, the sixth straight month seeing an increase. 
     --Japan's government kept its view on household spending outlook, which ,
it says, "shows signs of pickup".
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email:
--MNI London Bureau; tel: +44 203-586-2225; email:
MNI London Bureau | +44 203-865-3812 |

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