CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Cheaper, Bear-Steepening Ahead Of Extended Long Weekend

JGBS

At the Tokyo lunch break, JGB futures are holding near the overnight closing level, -33 compared to settlement levels.

  • With the local calendar light today, the domestic market is drifting cheaper, led by the long end, despite US tsys currently dealing 1-2 bps richer than NY's close in today’s Asia-Pac session.
  • ICYMI, Bloomberg reported yesterday that the spread between 10 and 30-year JGB yields is set to widen further in the weeks ahead after the BoJ announced it will reduce the frequency of purchases for the longest maturities. (See link)
  • The cash JGB curve has bear-steepened, with yields flat to 7 bps higher. The benchmark 10-year yield is 2.9 bps higher at 0.624% versus the recent rally low of 0.555% set on 20 Dec.
  • The swaps curve has also bear-steepened with swap spreads wider to the 5-year and tighter beyond.
  • A reminder that Japanese markets are closed Monday, Tuesday, and Wednesday next week.
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.