Japan wages data for May.

In 'real', price adjusted terms wages in May were higher, but the pace of gains slowed

Labor Cash earnings for May -0.2% y/y

• expected is 0.5% prior was 0.0%, revised from 0.3%

Real cash earnings, +0.2%

• prior 0.4%, revised from 0.6%

Rising wages is a key policy objective of the administration. Nominal wage growth fell in May (first fall since June of 2015)