Mizuho Securities: If Takashi Sakamoto loses the election, it may trigger a "Takashi Trading" Close Position wave.

Jin10 data reported on October 10th, Chief Strategist Shoki Omori from Mizuho Securities stated that if Kishi Suga fails to be elected as Japan's Prime Minister, and a candidate advocating for fiscal tightening and supporting Central Bank interest rate hikes emerges, the "Kishi trade" closing position may be triggered. Although the opposition parties have differing opinions, making this a non-mainstream scenario, the market may begin to price in the risks of a policy reversal, which would push down the USD/JPY Exchange Rate. However, the yen is likely to continue maintaining its financing/arbitrage currency attributes in the short term, and it is expected that this situation will not lead to the USD/JPY exchange rate breaking below the 140 level.