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Cash Bonds Little Changed, BoJ Ueda and Uchida At BoJ-IMES Conference On Monday

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JGB futures are weaker, -9 compared to the settlement levels, and sit in the middle of the day’s range.

  • Outside of the previously outlined National CPI, there hasn't been much in the way of domestic drivers to flag. Department Sales data is due along with a Liquidity Enhancement Auction for OTR 5-15.5-year JGBs.
  • According to MNI’s technicals team, a bear trend in JGB futures persists, erasing the corrective bounce last week. The contract is for now trading just above key support and bear trigger at 143.44, the Nov 1 low. A stronger reversal higher is required to signal the end of the recent downward phase. Key resistance is at 145.95, the Mar 28 high. A break would signal scope for a climb towards the bull trigger at 147.74, the mid-January high.
  • Cash US tsys are dealing ~1bp richer in today’s Asia-Pac session after yesterday’s sell-off.
  • Cash JGBs are little changed. The benchmark 10-year yield is 0.4bp higher at 1.006% versus the YTD high of 1.011%.
  • The swaps curve has slightly bull-flattened, with rates flat to 1bp lower. Swap spreads are mostly tighter.
  • On Monday, the local calendar will see BoJ Governor Ueda and Deputy Governor Uchida deliver remarks/speeches at the BoJ-IMES Conference. Leading and Coincident Indices are also due on Monday.
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JGB futures are weaker, -9 compared to the settlement levels, and sit in the middle of the day’s range.

  • Outside of the previously outlined National CPI, there hasn't been much in the way of domestic drivers to flag. Department Sales data is due along with a Liquidity Enhancement Auction for OTR 5-15.5-year JGBs.
  • According to MNI’s technicals team, a bear trend in JGB futures persists, erasing the corrective bounce last week. The contract is for now trading just above key support and bear trigger at 143.44, the Nov 1 low. A stronger reversal higher is required to signal the end of the recent downward phase. Key resistance is at 145.95, the Mar 28 high. A break would signal scope for a climb towards the bull trigger at 147.74, the mid-January high.
  • Cash US tsys are dealing ~1bp richer in today’s Asia-Pac session after yesterday’s sell-off.
  • Cash JGBs are little changed. The benchmark 10-year yield is 0.4bp higher at 1.006% versus the YTD high of 1.011%.
  • The swaps curve has slightly bull-flattened, with rates flat to 1bp lower. Swap spreads are mostly tighter.
  • On Monday, the local calendar will see BoJ Governor Ueda and Deputy Governor Uchida deliver remarks/speeches at the BoJ-IMES Conference. Leading and Coincident Indices are also due on Monday.