高市早苗意外胜选，风险资产许你耀眼

Market Reaction - The victory of Sanae Takaichi in the LDP presidential election is interpreted as a signal for the potential return of "Abenomics," leading to a rapid market revaluation[4] - The Nikkei 225 index surged over 4%, marking the largest single-day increase in months[5] - The Japanese yen depreciated by 1.5% against the US dollar, approaching the psychological level of 150, and hit a historical low against the euro[5] Bond Market Impact - The yield on Japan's 40-year government bonds soared by 14 basis points to 3.52%, reflecting expectations of increased fiscal spending[5] - The bond market faces pressure due to anticipated government debt issuance, which could lead to a sell-off if not managed with a safety net[10] Economic Policy Outlook - Takaichi emphasized prioritizing inflation control, proposing increased subsidies to local governments and potentially lowering consumption tax[5] - Her stance against interest rate hikes by the Bank of Japan reinforces market expectations for continued accommodative monetary policy[4] Global Market Dynamics - The interplay between Japanese and US monetary policies is injecting new momentum into global risk assets, benefiting equities and emerging markets[10] - The US dollar's trajectory is complicated; while the yen's weakness supports the dollar, rising global risk appetite diminishes the dollar's appeal as a safe haven[10] Investment Strategy - Investors are adjusting positions in anticipation of fiscal stimulus, favoring high-dividend and high-yield assets while navigating a complex selection of options[11]