Free Trial

Dips Remain Supported, But We haven't Cleared Monday Highs

JGBS

JGB futures last sat at 148.19, +.10, with relatively tight ranges prevailing in the first part of trade. We saw an early dip towards 148.14, while to upside 148.23 have presented a cap. There has likely been some positive spill over from a slightly higher track in TYU3, last 113-18 +06.

  • In cash JGBs, yields are slightly lower, the 10yr last just under 0.43%, while 10yr swap is close to 0.59%, so little net change versus yesterday's levels.
  • The Q2 BSI prints showed a decent rebound on Q1 weakness. It supports the economic outlook, but doesn't shift the BoJ's wages/inflation outlook.
  • Japan will hold an enhanced liquidity auction for 15.5-39yr, at 5pm local time (9am BST).

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.