On an otherwise quiet day for scheduled news, lots of interest in the spike in Japanese government bond yields and the plunge in the yen against the dollar and euro. That followed the surprise selection of Sanae Takaichi to lead the ruling LDP party and to become Japan's first woman prime minister. Takaichi is known to support aggressive fiscal expansion and as a critic of Bank of Japan rate hikes. Sound familiar? The news lifted Japanese stocks but hit hard at long end JGBs where yields surged 13-14 basis points at the Tokyo open and spurred a 200-point move down in the yen. Those are big, unusual moves on political news.

Meanwhile, political instability in France has spurred a selloff in French debt and other European government bonds. US bond yields are higher in sympathy with JGBs and EGBs.

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.