Free Trial
KRW

Won Rebounds, USD/KRW Back Close to 1300

RBA

VIEW: ANZ: Diminished Hawkishness

AUSSIE SWAPS

J.P.Morgan Pay The Belly 2-/5-/7-Year Swap Fly

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Futures Firmer Overnight, Defence Matters In Limelight

JGBS

JGB futures added 14 ticks in overnight dealing, tracking the gyrations witnessed in broader core global FI markets, going out just shy of best levels.

  • The already released, firmer than expected domestic household spending and wage data may apply some modest pressure to JGB futures around the Tokyo re-open, although an uptick observed in U.S. Tsy futures and ACGBs will likely provide some spill over-related counter.
  • Note that Yomiuri has suggested that the Japanese Ministry of Defence's budget request for FY23 will reach a record high of Y5.5tn, on top of "item requests" which will boost the final amount, citing the latest meeting of the ruling Liberal Democratic Party's Security Research Commission.
  • On the defence front it is worth noting that since yesterday’s Tokyo close we have seen a Chinese missile launch over Taiwan, with some of the missiles landing in Japan’s EEZ. This comes after a bilateral meeting between the Chinese & Japanese Foreign Ministers was cancelled.
158 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

JGB futures added 14 ticks in overnight dealing, tracking the gyrations witnessed in broader core global FI markets, going out just shy of best levels.

  • The already released, firmer than expected domestic household spending and wage data may apply some modest pressure to JGB futures around the Tokyo re-open, although an uptick observed in U.S. Tsy futures and ACGBs will likely provide some spill over-related counter.
  • Note that Yomiuri has suggested that the Japanese Ministry of Defence's budget request for FY23 will reach a record high of Y5.5tn, on top of "item requests" which will boost the final amount, citing the latest meeting of the ruling Liberal Democratic Party's Security Research Commission.
  • On the defence front it is worth noting that since yesterday’s Tokyo close we have seen a Chinese missile launch over Taiwan, with some of the missiles landing in Japan’s EEZ. This comes after a bilateral meeting between the Chinese & Japanese Foreign Ministers was cancelled.