Narendra Modi leads the vote count and is almost certainly going to be able to form a single-party majority
That is helping to settle some nerves among investors in Indian assets after six weeks (!) of polling. The result here represents a striking vote of confidence in Modi's leadership despite some bumps along the road (
Comments by Japanese finance minister, Taro Aso
- Believes that the sales tax hike won't derail Abenomics
Aso hops on the bandwagon of government officials and policymakers who continue to view that the proposed sales tax hike in October is still a plausible idea. If economic conditions continue to hold up as it is currently, they may
Further comments by BOJ deputy governor, Masayoshi Amamiya
- Liquidity has been falling for certain JGBs
Well, when you're holding roughly 50% of outstanding JGBs, you can't expect market functionality to be "normal" or close to that. The BOJ has reduced its bond purchases over the years but it's more of the fact that it is inevitable
Euro area flash PMI data for May the focus of the session ahead
With the UK political situation in shambles, the pound continues to be pressured as May continues to hang on amid a Cabinet mutiny. Overnight, we saw House of Commons leader, Andrea Leadsom, resign in the latest form of protest against May's leadership.
Here is Reuters with a good piece on China rare earths.
Here is the link for more.
Have to admit I'm not totally across this but the last time this topic came up a while back it prompted other suppliers to enter the market, right?
Bank of Japan Dep Gov sticking to the approved script
- Continue with persistent easing
- Will communicate exit appropriately at the right time
Maybe he doesn't like the yen gaining back a few points? USD/JPY has declined as low as under 110.15 in Tokyo so far today.