MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Futures Holding Overnight Downtick, Muted Reaction To PPI Miss

JGBS

JGB futures are holding the overnight downtick in early Tokyo trade, -1 compared to settlement levels after June PPI data prints lower than expected at +1.2% y/y (+1.5% y/y est.)

  • According to MNI’s technicals team, the rally in JGB futures since Friday reaffirms the buy-on-dips theme in markets at present. Moves continue to mirror fluctuations in US tsys. Key resistance lies ahead at 149.21/53, highs from May and March. Clearance of these levels would highlight an important break.
  • A Bloomberg article by John Authers states that If Kazuo Ueda, the new governor of the Bank of Japan, is to be believed, the long-running policy of “Yield Curve Control” (YCC), or intervening to hold 10-year yields down, has more life in it yet. (See link)
  • Cash JGBs are dealing mixed with yield changes bounded by -0.1bp and +0.4bp. The benchmark 10-year yield is 0.4bp higher at 0.470%%, below the BoJ's YCC limit of 0.50%.
  • The swap curve has bear steepened with swap spreads wider across the curve.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.