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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.

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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