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JGBS: Futures Above Thursday Highs, Yields Tracking Lower

JGBS
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JGB futures have spiked higher in the first part of Friday trade. We were last 142.61, +.47 versus settlement levels. This is through post BoJ highs from yesterday. Dec 13 highs at 142.62 are close by.

  • US Tsy futures are slightly higher in the first part of dealing. The US House failed to pass a stop gap funding measure, risking a government shut down.
  • JGB yields are softer across the curve, with 2-5yr yields down around 3bps, the 10yr is off 2bps to 1.05%. These moves are largely being mirrored in the swap space. The back end of the curve is seeing some yield support though.
  • A short while ago we had Nov CPI print, which was close to expectations, although the detail outside of a utilities spike was a little softer.
  • The data is unlikely to shift near term BoJ thinking as it awaits more information early in 2025. 
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JGB futures have spiked higher in the first part of Friday trade. We were last 142.61, +.47 versus settlement levels. This is through post BoJ highs from yesterday. Dec 13 highs at 142.62 are close by.

  • US Tsy futures are slightly higher in the first part of dealing. The US House failed to pass a stop gap funding measure, risking a government shut down.
  • JGB yields are softer across the curve, with 2-5yr yields down around 3bps, the 10yr is off 2bps to 1.05%. These moves are largely being mirrored in the swap space. The back end of the curve is seeing some yield support though.
  • A short while ago we had Nov CPI print, which was close to expectations, although the detail outside of a utilities spike was a little softer.
  • The data is unlikely to shift near term BoJ thinking as it awaits more information early in 2025.