Japan 20-year government bond yield rose 6.5bps to 3.815%.

JP Morgan CEO Jamie Dimon told the UK chancellor on a call last week not to impose new taxes on banks, warning that an uncompetitive tax regime—under consideration ahead of the October budget—would weaken London’s financial centre and could prompt capital and financial jobs to leave the UK.

A draft Guangzhou grain security 15th Five-Year Plan, opened for public comment, calls for scaling leading grain firms. The city will support strong state-owned backbone grain companies and selected private leaders as 'chain leaders' to build an integrated large–medium–small grain industry ecosystem and guide them to scale. The plan aims to cultivate 2–3 full-industry-chain grain groups with annual revenue exceeding 5 billion yuan. It also seeks stronger central–local cooperation, promoting comprehensive ties between Guangzhou grain firms and central SOEs including COFCO, China Grain Reserves (Sinograin) and Beidahuang across procurement, storage, processing, logistics and sales.