Hong Kong trade balance July: deficit HK$4.887 bln, prior -HK$52.0 bln.

Rising JGB yields increase Japan bond investment appeal, likely prompting ETF inflows. Higher yields boost the Japanese government’s interest burden, raising debt-service costs in FY2027. Higher domestic rates are theoretically supportive for the JPY, but fiscal risk and institutional FX hedging should offset part of the currency effect. Net of opportunity cost, reduced incentive for Japanese capital to hold overseas debt is negative for UST demand and may lower Japanese allocations to foreign bonds. Market implication: Japan is ceasing to be a zero-rate funding pool, altering global bond funding and pricing dynamics.

Kremlin says it has no information that a U.S. military aircraft landed in Moscow.