Leader of the conservative populist Democratic Party for the People (DPFP), Yuichiro Tamaki, has posted on X regarding the centrist social conservative Komeito's withdrawal from the governing coalition with the conservative Liberal Democratic Party (LDP). Says "I view this as a manifestation of Komeito's extremely strong determination that the issue of money in politics must be brought to an end", referring to the LDP slush fund scandal that brought down the party's powerful faction system and PM Fumio Kishida in 2024.
Chart 1. House of Representatives, Seats

Source: shugiin.go.jp, MNI
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| Type | 12-month BOT |
| Maturity | Sep 14, 2026 |
| Amount | E9bln |
| Target | E9bln |
| Previous | E8bln |
| Avg yield | 2.030% |
| Previous | 2.012% |
| Bid-to-cover | 1.39x |
| Previous | 1.41x |
| Previous date | Aug 12, 2025 |
| 4.00% Oct-31 Gilt | Previous | |
| Amount | GBP4.00bln | GBP4.25bln |
| Avg yield | 4.208% | 4.401% |
| Bid-to-cover | 3.27x | 2.74x |
| Tail | 0.2bp | 0.7bp |
| Avg price | 98.888 | 97.778 |
| Low price | 98.876 | 97.740 |
| Pre-auction mid | 98.851 | 97.763 |
| Previous date | 21-May-25 |
Some underperformance for the front and belly on the curve this morning, bear flattening seen. Presence of the impending ’31 supply a potential factor, bidding deadline imminent.