Overview of FY27 budget requests, implications for JGB issuance plan
General account requests for FY27 budget apparently swelled to record high of c. JPY143 trillion
Focus now on how far government can curb new financing bond issuance by narrowing policy measures, finding funding
Total JGB issuance in JPY190 trillion range in sight; more coupon-bearing JGBs needed if retail sales, TBs insufficient