Asian markets were mixed today with the Nikkei outperforming after Abe's landslide victory in the Japanese elections. (Nikkei +1.21%, Hang Seng -0.67%, Shanghai Comp +0.02% & S&P/ASX -0.22%). The Yen also gapped lower, trading at its lowest levels since July before position squaring took place later in the session. The gap between 113.57 & 113.65 is at present still in place. The USD remained higher vs most pairs but had given back a lot of earlier gains. Bond markets opened on the defensive with JGB's Aussie Bonds and Treasuries all breaking Fridays lows before recovering to finish slightly ahead on the day. Volumes were mediocre with Just 79k TYZs trading throughout the session. Else where Oil was higher on Middle Eastern supply concerns and Gold was lower on the Stronger US$.
Key Headlines
-Abe Placed to Lead Japan Through 2021 After Big Election Win.
-China House Prices Y/Y (Sep) +6.3%, previous +8.3%
-The PBoC set the yuan mid-point at 6.6205 against the Dollar
-Japan’s August Revised Coincident Rises to 117.7
-Japan’s August Revised Leading Index Rises to 107.2
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