Futures Little Changed On Friday, Light Local Calendar

In post-Tokyo trade on Friday, JGB futures were little changed, closing -1 compared to settlement levels, after US tsys held modestly richer after the bell, with US 2-year and 10-year yields declining 3-4bps.

• Building permits disappointed in July at 1396k (cons 1425k) after a mildly upward revised 1454k (1446k). University of Michigan inflation expectations were a tenth stronger than expected for both 1Y and 5-10Y measures but remained in recent ranges.
• Meanwhile, the BLS state household survey data showed another decline in the share of states that have triggered the Sahm Rule threshold, down to 30% in July from 34% in June and 42% in May.
• US equities rebounded from an initial dip, to advance for the seventh consecutive day, with the S&P 500 0.2% higher.
• The KC Fed hosted Jackson Hole economic symposium "Reassessing the Effectiveness and Transmission of Monetary Policy," which will be held Aug. 22-24, with Fed Chairman Powell speaking at 1000ET Friday Morning.
• Japanese bonds are skewed to the downside ahead of this week’s main event when BoJ Governor Ueda will be questioned in parliament over the July interest rate hike. He is likely to double down on the message that the BoJ isn’t done tightening yet. (per BBG)
• Today, the local calendar will see Core Machine Orders data alongside 1-year supply.