美国财政部长贝森特将于明天对日本首相石破慎太郎进行“礼节性访问”。贝森特将于明天抵达东京，并将会见日本贸易谈判代表赤泽。我们将看看与石破茂的“礼节性访问”是否是其中的一部分，或者这可能是传递特朗普任何信息的一种方式，反之亦然。

US Treasury secretary Bessent to pay "courtesy visit" to Japan PM Ishiba tomorrow.Bessent will be arriving in Tokyo tomorrow and is also set to meet with Japan trade negotiator Akazawa. We'll see if this "courtesy visit" with Ishiba is part of that or perhaps it's a way to pass on any message from Trump vice versa.

日本10年产量峰值：是什么推动了这一增长？。受选举后财政扩张、潜在消费税削减以及与美国贸易紧张局势加剧的预期推动，日本10年期债券收益率飙升至2008年以来的最高水平。随着7月20日上议院投票前政治不确定性的增加，投资者正在为更多的债务发行和

Japan's 10-Year Yield Peaks: What's Driving the Rise?.Japan's 10-year bond yield has surged to its highest level since 2008, driven by expectations of post-election fiscal expansion, potential consumption tax cuts, and rising trade tensions with the U.S. As political uncertainty grows ahead of the July 20 Upper House vote, investors are bracing for more debt issuance and

日经225指数周四上涨0.6%，收于39901点，而东证指数上涨0.7%，收于2840点，结束了早盘的下跌，并从前一交易日的小幅下跌中反弹。日经指数创下两周来的最高收盘点位，追随美国总统唐纳德·特朗普否认解雇美联储主席杰罗姆·鲍威尔的计划后，华尔街隔夜上涨。投资者还消化了日本最新的贸易数据，该数据显示，对美国和中国的出口下降，但对欧盟、东盟和俄罗斯的出口强劲增长抵消了这一下降。最近美国与越南和印度尼西亚的贸易协定进一步支撑了市场情绪。科技股领涨，NEC公司上涨4.3%，LY公司上涨3.6%。Sumco表现最佳，跃升7.0%，其次是Socionext（6.4%）和CyberAgent（5.1%）。不利的一面是，加拿大Alimentation Couche Tard撤回470亿美元的收购要约后，Seven&i Holdings股价下跌9.2%。

The Nikkei 225 rose 0.6% to close at 39,901 on Thursday, while the broader Topix gained 0.7% to 2,840, snapping early losses and rebounding from a slight dip in the previous session. The Nikkei marked its highest close in two weeks, tracking overnight gains on Wall Street after US President Donald Trump denied plans to dismiss Federal Reserve Chair Jerome Powell. Investors also digested Japan’s latest trade data, which showed declines in exports to the US and China, offset by strong gains in shipments to the EU, ASEAN, and Russia. Sentiment was further supported by recent US trade agreements with Vietnam and Indonesia. Technology stocks led the advance, with NEC Corp climbing 4.3% and LY Corp rising 3.6%. Sumco was the top performer, jumping 7.0%, followed by Socionext (6.4%) and CyberAgent (5.1%). On the downside, Seven & i Holdings tumbled 9.2% after Canada’s Alimentation Couche-Tard withdrew its USD 47 billion bid to acquire the company.

日本贸易谈判代表赤泽将于本周末在大阪接待美国代表团。这表明，双方仍有许多事情要讨论，但迄今为止进展甚微。特朗普提醒日本，他们将在8月1日面临25%的关税，所以时间是浪费。

Japan trade negotiator Akazawa will be in Osaka to host US delegation this weekend.It shows that there is still much to discuss with little progress being made thus far between the two sides. Trump reminded Japan that they face 25% tariffs come 1 August, so time's a-wasting.