In normal years, this used to be quite the event and contributed another element to the summer lull in markets during this period.

This year, the Oylmpics is one that is largely without spectators and has been marred by COVID-19 cases among athletes and officials, with the virus situation in Tokyo also not helping with the overall mood.

If anything, keep an eye on this in the coming weeks as some form of sentiment barometer in that sense. The opening ceremony takes place tomorrow at 8pm local time in Japan.