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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.
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Free AccessFutures Off Worst Levels, Little Reaction To BoJ Ops
Trade in JGB futures has been two-way since the re-open, albeit contained.
- The contract is a touch above late overnight levels ahead of the Tokyo bell, -16 vs. Tuesday’s settlement.
- Cash JGBs are 0.5-2.0bp cheaper on the day, with the super-long end leading the way lower. Note that 10-Year JGBs are sitting at 0.25%, with the latest round of BoJ fixed rate operations failing to push 10-Year JGB yields away from the upper boundary of the Bank’s permitted trading range. Note that the BoJ has not came in with a second round of fixed rate ops/Rinban.
- On the fiscal front there have been some apparent leaks re: the support package that will be announced in the coming weeks, with one pillar centring on cash handouts to low income Japanese families with children.
- A liquidity enhancement auction for off-the-run 15.5- to 39-Year JGBs headlines the domestic docket on Thursday.
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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.