Free Trial

Broader Impulse Drags Futures Lower Overnight


JGB futures reversed a chunk of Wednesday’s gains in overnight dealing, with Fed Chair Powell’s comments re: series of rate hikes (including confirmation of his preference for a 25bp rate hike in March), higher oil prices and a rally in global equity markets applying the pressure. The contract ultimately shed 38 ticks come the close of overnight trade, going out just off worst levels of the session. Note that U.S. Tsys have recovered from their late NY trough, which may provide some support for the space in early Tokyo dealing, as Tokyo participants assess the overnight moves.

  • Looking to Thursday’s local docket, we will get a speech from BoJ board member Nakagawa, consumer confidence data and 30-Year JGB supply.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



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.