stance

"Some moderate Democrats may shy away from Mamdani based on policy stances, while others shy away simply because they don't view him as an electable candidate at the national level," said Kane.

On security, long-pacifist Japan is adopting a more muscular military stance as relations with China worsen.

That sort of stance could be well received by equity markets, depending on how credible the guidance is.

“We need to maintain a restrictive stance of policy to ensure that we can bring inflation back to target.”

Delivering 2% inflation, she noted in September, requires “carefully calibrating the stance of policy.”