Japan’s push to steer more national pension assets into domestic markets risks redirecting billions into Japan and trimming fee revenue for foreign managers. Finance Minister Katayama said last Friday the government aims to substantially raise the national pension fund’s allocation to domestic assets, prompting investor bets that billions of dollars could flow into Japanese markets. The Government Pension Investment Fund (GPIF) manages $1.8 trillion; roughly $93 billion of overseas exposure is almost entirely run by foreign managers. As of the fiscal year to March 2025, GPIF relies on 35 external managers for overseas mandates; those firms collectively earned about JPY21bn (~$130m) in fees, and some global managers could face losses of tens of millions of dollars in management fees. Broadridge Asia-Pacific head of growth solutions Yoon Ng says passive foreign managers may come under pressure while domestically strong active managers stand to benefit.

有报道称，英国首相继任者安迪·伯纳姆将审查一项计划，该计划旨在帮助首次购房者负担得起房产，受此影响，英国住宅开发商指数上涨2.3%，住宅开发商Persimmon上涨3.3%，在英国富时100指数中涨幅居前。Investec分析师Aynsley Lammin表示，重新引入该计划具有充分的逻辑，它可能对行业大有帮助，并有望缓解房屋可负担性方面的限制。

Ukraine's deputy prime minister said a Russian attack on a Togo-flagged civilian merchant vessel killed 3 crew and injured 5.

乌克兰副总理：俄罗斯对挂托戈的民用商船的攻击造成三名船员死亡，五人受伤。

The State Council approved an 'expand consumption' 15th Five‑Year plan targeting total retail sales of consumer goods of about CNY60 trillion by 2030. The plan aims to raise the household consumption rate and strengthen consumption's contribution to growth, shift consumption toward services and digital channels, expand development‑and‑upgrade consumption, and narrow urban‑rural, regional and group consumption gaps. It also targets higher‑quality full employment, income growth aligned with economic expansion, and a more sustainable social‑security framework to support stronger household spending and steadier consumption expectations.

JP Morgan raised its PT on Marathon Oil (MRO.N) to $300 from $257.