综述丨日本政局动荡给经济带来更多不确定性

Group 1 - The Japanese Prime Minister, Fumio Kishida, announced the dissolution of the House of Representatives, leading to increased political instability and economic uncertainty [1] - Concerns over the ruling Liberal Democratic Party's (LDP) potential victory may exacerbate fears regarding aggressive fiscal policies, resulting in a decline in bond prices and a depreciation of the yen [1][2] - The yield on newly issued 10-year government bonds surged to 2.23%, the highest level since February 1999, indicating rising investor anxiety [1][2] Group 2 - The depreciation of the yen is expected to increase prices and suppress already weak consumer spending, while rising long-term interest rates above 2% will significantly raise corporate financing costs, negatively impacting economic recovery [2] - The dissolution of the House of Representatives has delayed the approval process for the new fiscal year's budget and tax reform proposals, which could affect the economic operations starting from April 1, 2026 [2][3] - Planned tax reforms, including the elimination of a 3% environmental tax on car purchases, are pending approval from the new parliament, which may hinder consumer spending in the automotive sector [3]