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Futures Eye Technical Support

JGBS

Weakness in U.S. Tsys ultimately pressured JGB futures in the final overnight trading session of last week, leaving the contract -9 come the bell. Nearing key support in the form of the Jun 17 low (151.49).

  • Local news flow continues to fixate on the upcoming LDP Party election (with reports suggesting that the first round may not result in a majority winner) and COVID (with reports pointing to all related state of emergencies being lifted come the end of this month).
  • PPI services data headlines the domestic economic docket today. Participants will also be cognisant of the proximity to tomorrow's 40-Year JGB auction, although long end demand has been relatively robust in recent sessions.
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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