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TYZ1 129.50 Puts Blocked


Japanese MOF sells Y2.8233tn 6-Month Bills:


Rupiah Weakens Ahead Of Warjiyo's Comments


Core Fixed Income Meandering On Thursday

JGBS: Futures and the super-long end of the curve softened in the wake of the
latest 20-Year JGB auction as the lowest price was ever so slightly softer than
expectations, the bid to cover ratio slipped and the tail widened vs. the
previous auction.
- Expectations were for a solid enough auction, as participants expected the
fact that there is no super-long end auction for the best part of a month to
outweigh the rich outright valuations.
- Futures last trade at 150.85 (-5 ticks), while the super-long end played catch
up after trading in a resilient manner in the morning session, with the cash
curve now steeper on the day, as the 20-Year sector underperformed.
- Swaps were tighter against JGBs across the curve.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |