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Futures Lower On Global Impulse, 30-Year JGB Supply Eyed

JGBS

JGB futures shed 14 ticks in overnight trade, with one particular round of hawkish ECB speak (albeit from one of, if not the, most hawkish voice on the Governing Council) and the building of the US$IG issuance slate applying pressure.

  • Local data has seen a soft round of headline and real household cash earnings, although focus is already on the outcome of the Shunto wage talks, with indications that salary increase requests on the part of unions are running at the highest level seen in ~25 years.
  • Elsewhere, there has been continued focus on the welcome direction of travel re: Japan-South Korea relations, although that shouldn’t be a needle mover for JGBs.
  • 30-Year JGB supply headlines locally on Tuesday.
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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