Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Curve Twist Steepens Early On

JGBS

Early JGB trade sees the major benchmarks run 1bp richer to 1.5bp cheaper, with a light bid in the 2- to 10-Year zone perhaps supported by the impending round of BoJ Rinban operations and hope surrounding a potential upsizing of BoJ bond purchases given 10-Year yield levels and wider core FI dynamics.

A heavy start for equities will also be providing some light support for JGBs.
Meanwhile, 30+-Year paper has cheapened, with a lack of BoJ purchases in that zone of the curve (at least if we go by today’s scheduled Rinban operation outline) and Thursday’s weakness in U.S. Tsys applying pressure to the super-long end, allowing the curve to twist steepen.
JGB futures have moved back to unchanged levels, ticking away from overnight lows, on the above dynamics.
Familiar soundbites have come from local policymakers re: FX markets, with USD/JPY operating above Y150.00.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Free Trial

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Enter your Country

Enter your Phone

Areas of interests

MNI may contact you in your professional capacity with information about our other products and services that we believe may be of interest to you. You will be able to update your communication preferences via the unsubscribe link provided within your communication.

Why Subscribe to
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.

MNI: Wage Growth Still Inflationary, Fed Report Says

MNI BRIEF: EZ '23 Fiscal Policy Infl'n Impact Less Than 0.8PP

MNI China Daily Summary: Friday, March 3

MNI DATA FORECASTS: US Jobs Report Key

MNI: US ISM FEB SERVICES COMPOSITE INDEX 55.1

MNI: US FEB FINAL S&P SERVICES PMI 50.6 (FLASH 50.5); JAN 46.8

MNI BRIEF: Trudeau Justified Using Emergency Act, Judge Finds

MNI: Canada Boosting Health Spending CAD46.2B Over 10 Years

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Strong Friday Close

Market Roundup: Bonds March Steadily Higher

Bear Flag Formation

Late SOFR/Treasury Option Roundup

Bull Cycle Still In Play

Late Equity Roundup: Finishing Strong, SPX at Mid-Feb Lvls

Real-time Actionable Insight

MNI: Barkin Sees Risk Of Higher Fed Rates Amid Sticky Prices

MNI BRIEF: Fed's Bowman Emphasizes Regulatory Fix To Markets

MNI INTERVIEW: Fed Rate Hikes Yet To Hit Services Prices-ISM

MNI DATA FORECASTS: US Jobs Report Key

MNI: Wage Growth Still Inflationary, Fed Report Says

Curve Twist Steepens Early On

Why Subscribe to
MNI

MNI

PRODUCTS

EVENTS

TOPICS

Real-time Actionable Insight

Curve Twist Steepens Early On

Sign up now for free access to this content.

FI Market:

FX Market:

Data:

Policy:

MNI Research:

Emerging Markets:

High Speed Calendar:

Commodities:

Why Subscribe to MNI

MNI

PRODUCTS

EVENTS

TOPICS

Why Subscribe to
MNI