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Futures Bid Overnight, Familiar Matters Dominate Weekend News Flow


JGB futures added 15 ticks in the final overnight trading session of last week, as the U.S. Tsy curve twist flattened, looking above their Tokyo peak on a couple of occasions.

  • When it comes to weekend news flow, Nikkei sources suggested that Japan will scrap the daily limit on overseas arrivals by October, while Yomiuri sources suggested that the BoJ’s September meeting will probably see the Bank terminate the COVID support package available to smaller companies.
  • Elsewhere, we saw Japanese Deputy Chief Cabinet Secretary Kihara reiterate the recent warnings re: JPY intervention, while he failed to rule out debt issuance when it comes to the funding of an increase in Japanese defence spending and alluded to upcoming considerations re: the relaxation of border restrictions, adding further weight to the aforementioned Nikkei report.
  • Preliminary machine tool orders data headlines a light economic docket on Monday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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