*In Russia, over the weekend, there was an attempted coup by the Wagner forces. Currently, there seems to be a somewhat inconclusive ceasefire in place. While there have been reports of an agreement between the Wagner forces and Putin, it may still be too early to determine a final ‘forgiveness’ situation. At the same time, due to Putin’s apparent full control, the possibility of a full-scale civil war seems less likely.
The markets for oil, natural gas, and wheat showed limited upward reactions to the developments over the weekend.

*In the minutes of the Bank of Japan’s monetary policy meeting, it was expressed that inflation may not fall below 2% until the middle of the fiscal year. However, it was also announced that they will continue the current monetary easing policy.
One of the main reasons cited by the BOJ for this policy is that the risks on inflation remain low in the long term. As a result, a member called for a review of the 0.50% cap on 10-year Japanese government bond yields.
Surprising decisions could be made at the Bank of Japan meeting on July 27-28.

*In Germany, the IFO Business Climate Index was announced at 88.5 in the morning hours, falling behind the previous month.
The German Central Bank stated in its announcement today that they expect inflation to slow down in the coming months.

*The international credit rating agency S&P Global has lowered China’s 2023 growth forecast from 5.5% to 5.2%. S&P noted that economic recovery in China continues, but at an uneven pace.