MNI BRIEF: BOC Governor Tiff Macklem Opening Statement

MNI BRIEF: Text of Bank of Canada Interest-Rate Decision

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Dealing Mixed After National CPI, BoJ Rinban Operations Today

JGBS

In Tokyo morning trade, JGB futures are holding in positive territory, +4 compared to settlement levels.

  • This comes after December CPI prints close to expectations. The headline rose 2.6% y/y, against the 2.5% forecast and 2.8% prior. The ex-fresh food measure was 2.3% y/y, in line with estimates (2.5% prior). The ex-fresh food and energy measure was 3.7% y/y, also in line with estimates (3.8% prior). The core measure which excludes all food and energy rose to 2.8% y/y, from 2.7% in Nov (although it was flat in m/m terms, non-seasonally adjusted).
  • So, whilst headline inflation continues to moderate in y/y terms, there are some pockets of strength, particularly on the services side, which has been evident for a few months. Still, expectations for next week's BoJ meeting are fairly low regarding any meaningful changes.
  • Cash US tsys are dealing 1-2bps cheaper in today’s Asia-Pac session. There hasn’t been anything meaningful on the newsflow front so far today.
  • Cash JGBs are dealing slightly mixed. The benchmark 10-year yield is 0.2bp higher at 0.652% versus the Nov-Dec rally low of 0.555%.
  • The BOJ will hold debt-buying operations for tenors of 1-3 years, 3-5 years, 5-10 years and over 25 years today.
  • Swaps curve has bear-steepened, with rates flat to 2bps higher. Swap spreads are wider.
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.