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Futures Just Off Lows As Nikkei Reverses Early Gains & More

JGBS

Morning trade saw a modest extension of the overnight weakness in JGB futures, before the Nikkei 225 quickly reversed its early gains on its way to recording losses of ~1%, which allowed JGBs to move away from lows, although the bounce has been shallow. That left futures -10 on the day come the bell. Cash trade saw the 7- to 20-Year zone of the curve finish the morning ~1bp cheaper, leading the weakness. Recent comments from BoJ Governor Kuroda haven't offered anything new, as he pointed to well-documented headwinds for inflation.

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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