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USDJPY TECHS

Holding Above Support

TURKEY

Erdogan Maintains Unchanged Stance On S-400s

PIPELINE

$5B Nvidia 4Pt Jumbo Leads High-Grade Issuance

JGBS
JGBS: A limited session for JGBs thus far with futures sticking to a tight
range, holding above 151.00, with little in the way of catalysts apparent to
give the contract any impetus in either direction as futures finished the
morning session 2 ticks lower than settlement.
- The cash curve continues to flatten, with the super-long end extending
Wednesday's move as 10-Year yields consolidate below 0.1%, last 0.095%.
- Japanese CPI releases were in line with exp., with no notable market reaction.
- Focus on the enhanced liquidity auction for off the run 5-15.5 Year JGBs later
today ahead of the long holiday weekend. The impending auction has potentially
limited movements across 5-10 Year benchmarks.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com