Free Trial

Firmer Across The Curve, 30-Year Supply Up Next

JGBS

JGB futures firmed a touch into the lunch break, much like the rest of the global core FI space, with the impulse from Wednesday’s broader FI trade and weakness in the Nikkei 225 providing support earlier in the day, although the contract hasn’t managed to meaningfully detach itself from late overnight session levels, hitting the lunch bell +13. Wider cash JGBs run 1.0-2.5bp richer across the curve, with 10s outperforming surrounding tenors, matching the bid in 30+-Year paper. Swap rates are lower on the day, although swap spreads remain wider across the curve.

  • Comments from Japanese Finance Minister Suzuki re: the need to monitor risk management practices at banks failed to move the needle (as they were very much as you would expect given the recent worry re: the global banking system), while BoJ Governor Kuroda provided familiar soundbites in an impromptu parliamentary appearance, as his departure tour continues.
  • Participants are zeroed in on this afternoon’s 30-Year JGB supply.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.