JAPAN Q2 2018 preliminary GDP and July PPI data on 10.08.2018

  • prior -0.2%
  • Q2 GDP YoY 1.9% vs 1.4% exp, prior -0.6%, revised -0.9%
  • capital expenditure QoQ 1.3% vs 0.6% exp, prior 0.3%, revised 0.5%
  • Private consumption QoQ 0.7% vs 0.2% exp, prior -0.1%, revised -0.2%
  • External demand QoQ -0.1% vs 0.1% exp prior 0.1%
  • Price index YoY  0.1%% vs 0.0% exp, prior 0.5%
  • July PPI MoM 0.5% vs 0.3% exp, prior 0.2%
  • July PPI YoY 3.1% vs 2.9% exp, prior 2.8%

A global beat. Should keep JPY demand intact and put some upward pressure on those JGB yields. Maybe with some delay as the capital mkt opens at 9am Tokyo time, in 7 minutes.

K-man

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