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Fresh YtD Highs For Futures

JGBS

The broader bid from U.S. Tsys in the wake of the latest NFP report supported JGB futures in the final overnight session of last week, leaving the contract 17 ticks higher than Tokyo settlement levels come the bell.

  • The move allowed futures to push to their highest levels of '21 so far (based on a continuation chart). This leaves bulls focused on the 38.2% retracement of the move from the '20 high to the Feb '21 low, with the monthly highs from the latter part of '20 providing a bit of a resistance zone ahead of that particular level.
  • In terms of weekend news flow, PM Suga's ruling coalition gained seats in the Tokyo assembly vote, although it fell short of gaining a majority.
Monday's local docket is fairly empty, although participants will be aware of the proximity to Tuesday's 30-Year JGB auction.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepage
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepage

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