Free Trial

Futures Extend Overnight Weakness In Morning Trade, Light Local Calendar

JGBS

In Tokyo morning trade, JGB futures have extended overnight weakness, -14 compared to settlement levels, but currently sit above the morning’s low.

  • Jibun Bank and S&P Global PMIs for March (F): Services Index rose to 54.1 from 52.9 in Feb and Composite Index rose to 51.7 from 50.6 in Feb.
  • Cash US tsys are dealing little changed in today’s Asia-Pac session, after yesterday’s twist-steepening.
  • The BoJ will conduct Rinban Operations covering 1-5-year and 10-25-year JGBs today.
  • Cash JGBs are flat to 2bps cheaper across benchmarks. The benchmark 10-year yield is 0.7bp higher at 0.756% versus the YTD high of 0.801%.
  • The swaps curve has bear-steepened, with rates flat to 1bp higher. Swap spreads are mixed.
113 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

In Tokyo morning trade, JGB futures have extended overnight weakness, -14 compared to settlement levels, but currently sit above the morning’s low.

  • Jibun Bank and S&P Global PMIs for March (F): Services Index rose to 54.1 from 52.9 in Feb and Composite Index rose to 51.7 from 50.6 in Feb.
  • Cash US tsys are dealing little changed in today’s Asia-Pac session, after yesterday’s twist-steepening.
  • The BoJ will conduct Rinban Operations covering 1-5-year and 10-25-year JGBs today.
  • Cash JGBs are flat to 2bps cheaper across benchmarks. The benchmark 10-year yield is 0.7bp higher at 0.756% versus the YTD high of 0.801%.
  • The swaps curve has bear-steepened, with rates flat to 1bp higher. Swap spreads are mixed.