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10-Year JGB Yields Still Capped

JGBS

Nothing much to really add to our earlier commentary on the space, with 10-Year JGB yields still capped by yesterday’s high (0.21%), even as 5-, 20-, 30- & 40-Year JGB yields register fresh multi-year highs. 10s are ultimately contained by expectations that the BoJ will step in to defend the upper end of its permitted 10-Year JGB yield trading band (0.25%) if required, perhaps even pre-emptively. JGB futures hit the bell -8, but within the confines of the recently observed range. Local news flow has been thin on the ground. 10-Year JGbi supply headlines this afternoon.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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