November 16, 2022 00:26 GMT
Curve Twist Flattens A Touch
JGBS
The impetus from wider core global FI trade on Tuesday has resulted in some light flattening of the JGB curve in early Tokyo dealing, with the major benchmarks running 1bp cheaper to 1bp richer, pivoting around 5s.
- JGB futures weren’t able to better their overnight session peak at the re-open and have ticked away from late overnight levels to print +18, with U.S. Tsys coming under some modest pressure (as outlined in our previous bullet).
- Local headline flow has seen softer than expected core machine orders data, with the space looking through that release.
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