Free Trial

Futures Marginally Firmer Overnight

JGBS

JGB futures added 4 ticks in overnight dealing, with the impact of hawkish guidance from the ECB nullified by the feedthrough from softer than expected U.S. data releases.

  • Local headline flow has been fairly muted since the Tokyo close, which left broader market gyrations at the fore in the overnight session.
  • Weekly data from JPX revealed the largest round of net weekly purchases of JGB futures on the part of foreign investors since September, likely indicating short covering after the latest test of the BoJ’s will (perhaps a little bit forced by the quarterly futures roll and the round of central bank decisions, which are now mostly behind us).
  • Looking ahead, flash PMI data headlines a slim local docket on Friday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.