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Pressured By Japanese Political Matters

US TSYS

There are heightened chances of Japanese PM Kishida being able to force through his preferred policies, most notably a supportive fiscal package, in lieu of the election results seen over the weekend. This is supporting Japanese equities, weighing on the JPY and applying some cheapening pressure to broader fixed income markets thus far, outweighing the impact of the softer than expected official Chinese PMI releases from the weekend. TYZ1 last -0-05 at 130-17+, edging back from lows, while cash Tsys tun little changed to 2.5bp cheaper across the curve, with the belly providing the heavy point.

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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