Mitsubishi UFJ Morgan Stanley
July 13, 2026
Japan Economic And Financial Weekly
Weekly UpdateEquitiesFXRates Govt BondsEnergy
The JGB market remains rangebound amid uncertainty over potential shifts in GPIF investment policy. Government efforts to influence yields through rhetoric face structural skepticism.
Key Takeaways
- 1.The JGB market is expected to be rangebound as uncertainty persists regarding government policy and GPIF investment shifts.
- 2.Finance Minister Katayama's comments on encouraging GPIF to invest in Japanese assets caused short-term volatility in JGB yields, but the practical ability to alter the GPIF policy mix remains highly uncertain.
Table of Contents
- JGB market scenario for July 13-17
- Key events for the week of July 13
- Economic indicators for the week of July 14
- Japan Economic Outlook
- Market Forecast
- Appendix A
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Authors
Naomi MugurumaKeisuke TsurutaKatsuhiro OshimaTakahiro OtsukaTakuya OnizawaShuji Tonouchi
Securities
10-year Japanese Government Bond
Themes
BoJ Monetary Policy IndependenceGPIF Asset Allocation
Regions
Asia PacificNorth AmericaJapanUnited States
