Japan · Labor Cash Earnings (YoY): 3.8

Actual3.8

Forecast3.7

Previous4.7

Surprise +0.25σ

VerdictABOVE FORECAST

ReadJGBs NEUTRAL · Equities NEUTRAL

Japan · Labor Cash Earnings (YoY): Actual 3.8, forecast 3.7, prev 4.7. Surprise: ABOVE FORECAST by 0.2 sigma. Desk read: JGBs NEUTRAL · Equities NEUTRAL.

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