December 01, 2022 02:52 GMT
Futures Extend Overnight Bid
JGBS
Cash JGBs were little changed to 3bp richer during the morning session, drawing support from Tokyo reaction to Fed Chair Powell’s latest address. 7s outperformed on the curve owing to the bid in futures, as local participants extended the overnight bid in that contract, which hit the lunch bell +38. Local headline flow has been fairly inconsequential, with no reaction to data releases, nor to the latest address from BoJ board member Noguchi (who stuck to the central BoJ view). 10-Year JGB supply headlines this afternoon.
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