The Japanese yen gapped higher in early Monday trade as results came in from Japan’s Upper House election. Prime Minister Ishiba's ruling coalition suffered a major blow, losing its majority in the upper chamber — having already lost control of the lower house in October. With minority government in both chambers now, Japan looks set for a period of political uncertainty.
The yne gapped higher, retraced then rose again in Europe/US trade.
Today we get the JGB and equity response.
So far early indications are a bit underwhelming. Neither bonds (Japanese Government Bonds) or equity index futures are too mcuh changed.
