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Semi-Government Bond Purchase Offer Details


ACGB Apr-24 Under Pressure


Futures Off Lows Overnight


CPI In The Spotlight

JGBS: Bull flattening apparent on the JGB curve in morning trade, with this
afternoon's 5-Year supply in focus, resulting in some underperformance around
that point of the curve.
- Futures advanced in Tokyo morning trade before a pullback ahead of the lunch
break, as the contract sat at unchanged levels come the morning bell.
- The longer end of the curve has continued to rally in the wake of Tuesday's
solid round of 30-Year issuance (a reminder that JGB steepeners are a favoured
position amongst strategists, which could be adding furl to the fire in a pain
trade scenario).
- The swap curve has twist flattened and is mostly wider vs. JGBs.