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Back From Session Cheaps At The Lunch Bell

JGBS

JGB futures nudged away from worst levels after the aforementioned break of the overnight session low triggered some selling pressure, finishing the morning session -30, with a lack of meaningful headline catalysts observed during the first half of the Tokyo day. Cash JGBs have also edged back from session cheaps to sit 1bp richer to 2.5bp cheaper, with 7s reassuming the position of weakest on the curve after the cheapening impulse in the super-long end moderated. Swap rates are back from session highs but swap spreads are still comfortably wider across the curve.

  • 2-Year JGB supply headlines domestic matters 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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