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Futures Consolidate After Pullback

JGBS

Little to add to the earlier points, with futures consolidating after the early pullback, hitting the lunchbreak +6 vs. settlement levels. Cash trade saw the 7-10 Year zone of the curve richen, while either side of this zone cheapened. Swap spreads were wider across the curve, as the swap curve steepened.

  • 1-5 Year BoJ Rinban ops saw the sizes of the ops left unchanged, with the most notable detail in the breakdown being an uptick in offer/cover ration of the 1-3 Year ops (to a not so lofty 3.00x).
  • Elsewhere, Japanese Chief Cabinet Secretary Suga refused to comment on any prospects re: running for PM, using his latest address to focus on the task at hand i.e. fighting COVID-19.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets

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