Few Reasons to Be Long JPY in Ishiba Aftermath -- Market Talk

Dow Jones

Sep 08, 2025

0154 GMT - Japan PM Ishiba's exit shifts focus to his successor, and what--if anything--that means for political stability, writes Chris Weston at Pepperstone. The market will weigh the extent of additional fiscal measures and budgets under a new leadership. "The degree of fiscal impulse will be important in containing upside in long-end JGBs." These developments will likely be seen as yet another reason to push the Bank of Japan's next 25bp hike into 2026, he says. That expectation is already in play, with swaps traders pricing only 12 bps of hikes by December, and Weston points to that as yet another reason why few want to own JPY at present. He looks for JPY weakness in Asia to become broad-based. USD/JPY last at 148.24.(fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

September 07, 2025 21:54 ET (01:54 GMT)

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The market will weigh the extent of additional fiscal measures and budgets under a new leadership. \"The degree of fiscal impulse will be important in containing upside in long-end JGBs.\" These developments will likely be seen as yet another reason to push the Bank of Japan's next 25bp hike into 2026, he says. That expectation is already in play, with swaps traders pricing only 12 bps of hikes by December, and Weston points to that as yet another reason why few want to own JPY at present. He looks for JPY weakness in Asia to become broad-based. 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The market will weigh the extent of additional fiscal measures and budgets under a new leadership. \"The degree of fiscal impulse will be important in containing upside in long-end JGBs.\" These developments will likely be seen as yet another reason to push the Bank of Japan's next 25bp hike into 2026, he says. That expectation is already in play, with swaps traders pricing only 12 bps of hikes by December, and Weston points to that as yet another reason why few want to own JPY at present. He looks for JPY weakness in Asia to become broad-based. USD/JPY last at 148.24.(fabiana.negrinochoa@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 07, 2025 21:54 ET (01:54 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"JPY","symbol_name":"Lazard Japanese Equity ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2565793165","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2565793165","pubTimestamp":1757296440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Copyright (c) 2025 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"JPY":"Lazard Japanese Equity ETF"},"translate_title":"石破事件后做多日元的理由很少——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JPY":1},"content_text":"0154 GMT - Japan PM Ishiba's exit shifts focus to his successor, and what--if anything--that means for political stability, writes Chris Weston at Pepperstone. The market will weigh the extent of additional fiscal measures and budgets under a new leadership. \"The degree of fiscal impulse will be important in containing upside in long-end JGBs.\" These developments will likely be seen as yet another reason to push the Bank of Japan's next 25bp hike into 2026, he says. That expectation is already in play, with swaps traders pricing only 12 bps of hikes by December, and Weston points to that as yet another reason why few want to own JPY at present. He looks for JPY weakness in Asia to become broad-based. USD/JPY last at 148.24.(fabiana.negrinochoa@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 07, 2025 21:54 ET (01:54 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}