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Futures Hold Overnight Losses, Cash Plays Catch Up

JGBS

JGB futures maintained their overnight session losses (which we covered in more detail earlier), hitting the lunch bell -15 after sticking within a tight range. Meanwhile, the cash curve played catch up, leaving the major JGB benchmarks flat to 2.5bp cheaper, with 7s weighed by the weakness in futures, while 20s struggled into this afternoon’s supply. Local headline flow has been very light, outside of the previously covered data releases, which failed to impact the market (as you would expect).

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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