Futures Back To Flat, Most Of Curve A Touch Richer

JGB futures are caught in the crosscurrents of higher oil prices to start the week and feed through from Friday’s bounce from session cheaps in U.S. Tsys. That mix has allowed the contract to recoup overnight losses, but it hasn’t been able to make much in the way of meaningful ground above Tokyo settlement levels, last dealing flat on the day. Wider cash JGB trade sees the major benchmarks running little changed to 1.5bp richer, while swap rates are mixed. On top of the previously announced RInban matters, recent headlines noted that BoJ Governor Kuroda will appear in parliament this morning (11:40 Tokyo), with BoJ Deputy Governor Amamiya set to follow him in the afternoon (15:12 Tokyo).