Free Trial

A flurry of activity in early Tokyo trade......>

JGBS: A flurry of activity in early Tokyo trade really defined the session.
- JGB futures broke lower in what looked to be a technically driven move,
extending on their overnight leg lower. The contract last trades 31 ticks worse
off vs. settlement, 13 ticks off lows.
- Bear steepening was evident in cash trade, with large swap flows observed
during the aforementioned move lower in futures.
- The 5-/30-Year spread sits ~14bp steeper than it did at the close of play on
Thursday. Remember, BoJ Governor Kuroda's well documented interview with the
Nikkei was released on Friday. 10-Year yields now trade at -0.224%. Both of
these developments will please the BoJ.
- 5-Year supply and the quarterly BSI survey headline the local docket on
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.