Overview

• The Nikkei 225 finished at 47,950 on Oct. 7, surpassing the previous record close set a day earlier.
• The index also notched intraday record highs for a second consecutive session, with morning gains briefly exceeding 500 points.
• The yen weakened into the high ¥150s per dollar, a roughly two-month low consistent with the stock-up, yen-down, bond-weak pattern dubbed the Takaichi trade.
• Long-term Japanese government bond yields rose as prices fell on concerns about increased issuance tied to potential fiscal expansion.
• Strength in U.S. technology stocks boosted Japanese semiconductor shares, while the Dow Jones Industrial Average fell 63 points to 46,694.97 on Oct. 6.