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First Day Of Trading For The Year

JGBS

In post-Tokyo trade on Friday, JGB futures were weaker, closing -20 compared to settlement levels.

  • Overnight, US tsys finished little changed. The NY session saw choppy trading after the December FOMC Minutes release. The minutes were balanced but with a dovish tone as officials noted diminished inflation and the need to start a discussion of QT wind down.
  • Crude oil perked up and climbed 3.65% to $72.95 per barrel as a shutdown at a Libyan oil field added to the concerns over Mid East tensions and supply. Gold slid -0.89% to $2040 per ounce, in part hurt by the FOMC minutes, with the firmer dollar weighing too.
  • The market’s focus now turns to ADP private employment later today, followed by December employment data on Friday.
  • Locally, several media stories have highlighted planned wage rises for some companies this year, which were announced at the end of 2023 see this link, and here as well, link. Final link here, link.
  • Today, the local calendar sees Jibun Bank PMI Mfg and Monetary Base data.
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