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Futures Coil Ahead Of 5-Year Supply

JGBS

Futures coiled during the Tokyo morning, hitting the lunch bell +16 vs. yesterday’s settlement levels, in line with late overnight session levels. Meanwhile, the cash JGB curve played catch up to Monday’s bid in wider core FI markets, with 7s outperforming on the bid in futures, leaving the major cash JGB benchmarks 0.5-2.0bp richer. We didn’t get anything in the way of meaningful domestic headline flow, which meant that local participants had little in the way of inputs to act on. This afternoon’s 5-Year JGB supply provides today’s focal point.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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