Core Viewpoint - The Japanese economy has not yet stabilized, raising concerns that the Bank of Japan's potential reduction in bond purchases could complicate government bond issuance and hinder measures to boost domestic demand [1] Group 1 - The Japanese economy is still in a fragile state, which is a significant concern for policymakers [1] - There is apprehension regarding the impact of the Bank of Japan's actions on government bond issuance [1] - The reduction in bond purchases by the central bank may affect the government's ability to implement domestic demand-boosting measures [1]

Group 1 - The core viewpoint of the news highlights the recent performance of silver futures and the economic indicators from Japan, suggesting potential market movements and implications for investment strategies [1][2] - On June 23, the Shanghai silver futures closed at 8770 yuan per kilogram, with a daily increase of 0.35% and a trading volume of 436,999 contracts [1] - The spot price of silver in Shanghai was reported at 8707 yuan per kilogram, indicating a discount of 63 yuan per kilogram compared to the futures price [1] Group 2 - The Bank of Japan has decided to slow down the reduction of bond purchases starting from the fiscal year 2026, amid concerns over the economic outlook and potential impacts of U.S. trade tariffs [1] - Japan's core inflation rate has remained above the central bank's 2% target for over three years, reaching a two-year high in May, which opens the door for further interest rate hikes [1] - The au Jibun Manufacturing Purchasing Managers' Index (PMI) showed that Japan's manufacturing sector returned to expansion for the first time since May 2024, rising from 49.4 to 50.4 in June [1] Group 3 - The trading strategy for silver futures indicates a recent trend of initial declines followed by rebounds, with a focus on adjusting the rebound target upwards [2] - The primary resistance level for silver futures is set at 8900, and if this level is breached, there is potential to test the 9000 psychological resistance zone [2] - The overall trading rhythm is expected to remain oscillating and slightly bearish [2]

Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, stated that uncertainty will persist as long as relevant negotiations continue [1] Group 1 - The potential slowdown in the pace of debt reduction may hinder the improvement of market functions [1] - The Bank of Japan is maintaining close communication with the government regarding bond purchase issues [1]

Core Viewpoint - The Bank of Japan maintains its benchmark interest rate at 0.5% and plans to slow down the pace of bond purchase reductions starting next fiscal year, indicating a cautious approach amid increasing market volatility [1] Summary by Relevant Sections - **Interest Rate Decision** - The Bank of Japan has decided to keep the benchmark interest rate unchanged at 0.5% [1] - **Bond Purchase Strategy** - The central bank plans to reduce its monthly bond purchases from the current pace of 4000 billion yen (approximately 268 billion USD) to 2000 billion yen (approximately 134 billion USD) per quarter starting next fiscal year [1] - This decision aligns with market expectations, as all 53 surveyed economists anticipated the interest rate to remain unchanged, with two-thirds expecting a slowdown in the pace of bond purchase reductions [1]

Core Viewpoint - The Bank of Japan indicates a readiness to increase bond purchases if yields rise rapidly, while also preparing to modify its plans as necessary [1] Group 1 - The Bank of Japan continues to reduce its bond purchasing scale while maintaining flexibility, which is deemed appropriate [1]

阿根廷财政部长表示，财政部将利用周五债券发售的比索盈余资金，按面值购买央行持有的债券，金额 分别为4.79亿美元和9.86亿美元。 ...

美联储理事沃勒：美联储不会在初级拍卖中购买债券。 ...

日本央行计划在5月以与4月相同的速度购买债券。 ...