Japan · Labor Cash Earnings (YoY): 4.7

Actual4.7

Forecast3.9

Previous3.4

Surprise +2.00σ

VerdictABOVE FORECAST

ReadJGBs neutral · Equities neutral

Japan · Labor Cash Earnings (YoY) — Actual 4.7, forecast 3.9, prev 3.4. Surprise: ABOVE FORECAST by 2.0 sigma. Desk read: JGBs neutral · Equities neutral.

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