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The yield on Japans 40-year government bonds fell 12 basis points to 3.6%.Market news: Kazakhstan expects its marketable natural gas production to reach 2.74 billion cubic meters in 2026.According to Interfax news agency: The Russian delegation to the Ukraine negotiations has arrived in Geneva.February 17th - According to foreign media reports, Japans finance ministry forecasts that annual bond issuance may increase by 28% over the next three years due to rising debt financing costs. This result casts doubt on Prime Minister Sanae Takaichis claim that Japan can achieve tax cuts without increasing debt. It is estimated that in the fiscal year beginning April 2029, Japan will need to issue up to 38 trillion yen (approximately US$248.32 billion) in bonds to fill the gap caused by spending exceeding tax revenue, an amount higher than the 29.6 trillion yen in fiscal year 2026. While tax revenue is expected to continue to grow, this revenue will still be insufficient to cover increasing expenditures. Rapidly aging populations and rising long-term interest rates will drive up social welfare and debt repayment costs. Debt servicing costs for fiscal year 2029 are projected to reach 40.3 trillion yen, higher than the 31.3 trillion yen in fiscal year 2026, accounting for approximately 30% of total spending, highlighting the pressure that rising bond yields are putting on Japans finances.Market news: Japans Ministry of Finance predicts that, due to rising debt issuance costs, Japans bond issuance in fiscal year 2029 may reach 38 trillion yen, a 28% increase compared to fiscal year 2026.

E-mini S&P 500 Index (ES) Futures Technical Analysis – Reaction to 3975.00 – 3946.50 Sets Near-Term Tone

Jimmy Khan

May 19, 2022 11:16

The three-day rise in June E-mini S&P 500 Index futures collapsed under the weight of a dismal performance in Target shares soon before the mid-session on Wednesday.


Target Corp's shares dropped 25.1 percent to the bottom of the S&P 500 index after the firm's first-quarter earnings was halved and the company warned of a worse margin impact due to increased fuel and freight expenses.


June E-mini S&P 500 Index futures were trading at 4009.50 at 14:58 GMT, down 75.25 or 1.84 percent. The S&P 500 Trust ETF (SPY) is down $7.64, or 1.87 percent, to $400.68.


Target's lead was followed by other retail growth companies, although not to the same extent. Other retailers' stocks fell between 4.1 percent and 11.8 percent, including Walmart Inc, Gap Inc, Kohl's Corp, Nordstrom Inc, Costco, Best Buy, Macy's Inc, and Dollar General Corp.


In early trading, all 11 main S&P sectors fell, with consumer staples and consumer discretionary down 3.5 percent apiece.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The return of the decline will be signaled by a trade through 3855.00. The major trend will turn to up if 4303.00 is broken.


4303.00 to 3855.00 is the short-term range. Its retracement zone of 4079.00 to 4132.00 halted the surge at 4095.00 earlier today.


3855.00 to 4095.00 is the minor range. The next negative objective is the retracement zone from 3975.00 to 3946.75.

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