MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bear-Flattening, Light Calendar

JGBS

At the Tokyo lunch break, JGB futures are holding cheaper, -29 compared to the settlement levels, marginally above the session’s worst level.

  • There hasn’t been much in the way of domestic drivers to flag, outside of the previously outlined Flash Jibun Bank PMIs. The calendar also sees Tertiary Industry Index data later.
  • Cash US tsys are sitting 3-4bps cheaper so far in the Asia-Pac session, with local participants profit-taking following an assertive post-FOMC rally.
  • (Bloomberg) JGB futures are heading lower in a delayed reaction to Thursday’s sloppy 20-year auction. This tepid demand will become a negative theme for JGBs into Bank of Japan meetings until the central bank finally tightens policy. (See link)
  • The cash JGB curve has bear-flattened, with yields flat to 3.2bps higher (3-year). The benchmark 10-year yield is 1.9bps higher at 0.693%. The 20-year is 1.7bps higher at 1.42% versus yesterday’s pre-auction low of 1.36%.
  • Swaps are 1-2bps cheaper across maturities, apart from the 30-year (0.8bps lower).
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.