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JGBS: Futures Drop On Report That Ueda and Ishiba “Didn’t Discuss Rising Yields”

JGBS
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JGB futures are little changed compared to settlement levels and in the middle of today’s range after Bloomberg reported that BoJ Governor Kazuo Ueda said he "Didn’t discuss rising yields with Ishiba" when he met with Prime Minister as part of regular meetings to exchange views on financial and economic developments.

  • Outside of the previously outlined Weekly International Investment Flow, there hasn't been much by way of domestic drivers to flag.
  • Cash US tsys are flat to 4bps richer, with a steepening bias, in today’s Asia-Pac session after yesterday's modest rally.
  • Cash JGBs are flat to 2bps richer across benchmarks, with the 40-year leading. The benchmark 10-year yield is 0.4bp higher at 1.438% after setting a fresh cycle high of 1.448% today.
  • The swaps curve has bull-flattened, with rates flat to 4bps lower. Swap spreads are tighter.
  • The local calendar will also see an Auction for Enhanced-Liquidity 5-15.5-year later.
  • Tomorrow, the local calendar will see National CPI and Jibun Bank PMIs data.
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JGB futures are little changed compared to settlement levels and in the middle of today’s range after Bloomberg reported that BoJ Governor Kazuo Ueda said he "Didn’t discuss rising yields with Ishiba" when he met with Prime Minister as part of regular meetings to exchange views on financial and economic developments.

  • Outside of the previously outlined Weekly International Investment Flow, there hasn't been much by way of domestic drivers to flag.
  • Cash US tsys are flat to 4bps richer, with a steepening bias, in today’s Asia-Pac session after yesterday's modest rally.
  • Cash JGBs are flat to 2bps richer across benchmarks, with the 40-year leading. The benchmark 10-year yield is 0.4bp higher at 1.438% after setting a fresh cycle high of 1.448% today.
  • The swaps curve has bull-flattened, with rates flat to 4bps lower. Swap spreads are tighter.
  • The local calendar will also see an Auction for Enhanced-Liquidity 5-15.5-year later.
  • Tomorrow, the local calendar will see National CPI and Jibun Bank PMIs data.