Free Trial

After the initial decline at the start of......>

JGBS
JGBS: After the initial decline at the start of the session on the back of
weakness in EGB's and UST's JGB markets have largely traded sideways.
- Markets await the 3-Month bill and 2-Year note auction from Japan, sources
note one positive for the auction is the favourable level of USD/JPY basis
swapswhich have moved notably higher in the past month, 2-Year swap some 4.625bp
higher. The moves to cut purchases in the long end and chatter that the BoJ are
seeking to steepen the yield curve (potentially by changing the focus of YCC to
5-Year sector) could also support the auction if the market believes this theory
has legs as it would imply short end purchases are safe.
- Nonetheless, the release of the December purchase progreamme after market
today could mean some investor caution. 

To read the full story

Close

Why MNI

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.