US stocks reverse earlier gains, JPY bid following PM Takaichi’s landslide victory, USTs hit on China report – Newsquawk US Market Open

China is reportedly urging banks to curb USTs exposure amid market risk, Bloomberg reports, citing sources; guidance does not apply to China’s state holdings of US Treasuries. Japanese PM Takaichi’s LDP party won a landslide victory at the snap election on Sunday, securing a super majority; JPY bid, JGBs lower and Nikkei 225 soars. European bourses are broadly firmer, whilst US equity futures move lower; Nikkei 225 soars post-LDP victory. USD hit on China-USTs report, JPY strengthens post-LDP, whilst GBP lags on regional political woes. JGBs set a bearish tone for global fixed income, with USTs also dragged on the…