Futures Downtick Overnight, 40Y & BoJ Tamura Speech Due

In post-Tokyo trade, JGB futures have downticked, closing -2 compared to settlement levels, after US tsys finished little changed after see-sawing around opening levels following a well-received $67bn 5-year note sale (4.235% vs. 4.242% WI).

• The US 2-year finished little changed at 4.59%, while the 10-year yield was down 1.4bps to 4.23%.
• Durable Goods Orders (1.4% vs. 1.0% est, prior down revised to -6.9% from -6.2%).
• Philly Fed Non-Mfg Activity missed estimate (-18.3 vs. -8.8 prior) - the lowest print since April 2023. It included fairly weak details: new orders remained negative, sales/revenues fell to a near-zero reading, full-time employment growth was "less widespread", and the price indexes "continued to indicate overall increases in prices".
• The Consumer Confidence Index dipped from 104.8 to 104.7, defying expectations of a rise to 107.0 (prior was revised down from 106.7). Present Situation rose from 147.6 (rev. from 147.2) to 151.0, with Expectations slipping from 76.3 (rev. from 79.8) to 73.8.
• (Bloomberg) -- Land prices in Japan rose 2.3% from the previous year for the third consecutive year of increase, according to data released by the Ministry of Land, Infrastructure and Tourism
• Today, the local calendar sees a speech from BoJ Board Member Tamura in Aomori, along with 40-year supply.