Japan 20-year bond yield rose 3.5 bps to 3.785%.

路透调查：28位受访经济学家中，有22位预计新西兰联储将于7月8日加息25个基点，使利率达到2.50%。

Korean IPO market has cooled sharply after a strong 1H. Korea Exchange said on Sunday 14 of 18 companies listed this year are trading below their issue price, with newly listed tech and fashion names leading declines. Analysts point to inflated IPO pricing and rapid exits by short-term speculative funds; regulators have recently tightened lock-up periods for institutional investors, but macro shocks and a supply-demand imbalance leave small- and mid-cap new listings especially vulnerable. Domestic liquidity is concentrated in large-cap AI and semiconductor-chain names including Samsung Electronics and SK Hynix, limiting capital flow to newer issuers. The financial industry is banking on a H2 pipeline of large, high-valuation listings to revive activity; new dual-listing guidelines have also been issued.