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Coronavirus Cases Drop To Two-Month Low

KOREA RATES

Auction Details

JGBS
JGBS: A limited session for JGBs 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.
- The cash curve unwound its modest early flattening in the afternoon session,
as the Nikkei punched fresh session highs.
- Little/no immediate reaction in benchmark paper/futures to the latest 5-15.5
Year liquidity enhancement auction for off the run paper.
- Japanese CPI releases were in line with exp., with no notable market reaction.
- The Nikkei reported that Japan will spend >Y2.0tn to mitigate the effects of
the planned sales tax hike, due in 2019. Elsewhere, NHK suggested that the
government is eying a 5 ppt rebate 9 months after the scheduled sales tax goes
into play.
- As a reminder Japan observes a market holiday on Friday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com