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JGBS: Futures Little Changed Overnight, BoJ Minutes Due, FOMC Later Today

JGBS
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In post-Tokyo trade, JGB futures closed slightly weaker, -3 compared to settlement levels, after US tsys finished the NY session little changed ahead of today’s FOMC decision. 

  • US tsys pared early losses after lower-than-expected Durable Goods Orders and down-revision to prior, while Capital Goods were higher than expected.
  • The Conference Board consumer survey saw confidence disappoint in January at 104.1 (cons 105.9) after an upward revised 109.5 (initial 104.7) for its lowest since September. Declines were seen in both main categories, also to their lowest since September, but were most pronounced for the present situation.
  • Stocks rebounded, semiconductors outperforming software & hardware makers as markets had more time to contemplate the new competition for US AI developers.
  • Moves are underway that would allow Japan’s Government Pension Investment Fund to participate directly in government bond auctions, according to people familiar with the matter. The Ministry of Finance will soon invite public comments and amend a government ordinance that defines participants in JGB auctions. (per BBG)
  • Today, the local calendar will see BOJ Minutes of the Dec. Meeting and the Consumer Confidence Index alongside 5-year GX supply.
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In post-Tokyo trade, JGB futures closed slightly weaker, -3 compared to settlement levels, after US tsys finished the NY session little changed ahead of today’s FOMC decision. 

  • US tsys pared early losses after lower-than-expected Durable Goods Orders and down-revision to prior, while Capital Goods were higher than expected.
  • The Conference Board consumer survey saw confidence disappoint in January at 104.1 (cons 105.9) after an upward revised 109.5 (initial 104.7) for its lowest since September. Declines were seen in both main categories, also to their lowest since September, but were most pronounced for the present situation.
  • Stocks rebounded, semiconductors outperforming software & hardware makers as markets had more time to contemplate the new competition for US AI developers.
  • Moves are underway that would allow Japan’s Government Pension Investment Fund to participate directly in government bond auctions, according to people familiar with the matter. The Ministry of Finance will soon invite public comments and amend a government ordinance that defines participants in JGB auctions. (per BBG)
  • Today, the local calendar will see BOJ Minutes of the Dec. Meeting and the Consumer Confidence Index alongside 5-year GX supply.