MNI BRIEF: Fed's Powell Says Neutral Rate Has Likely Risen

BOC SAYS FIRMS SEE SLOWER PRICE INCREASES AND WAGE GAINS

MNI BRIEF: China Q2 GDP Impacted By Bad Weather - NBS

MNI China Press Digest July 15: Consumption, Exports, FDI

MNI: PBOC Conducts CNY100 Bln Via 1Y MLF; Rates Unchanged

CHINA PBOC CONDUCTS CNY129 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

King's Speech Due Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Futures Pare Overnight’s Downtick, Swaps Curve Bear Steepens

JGBS

JGB futures pare the post-Tokyo downtick to be -8 versus settlement levels. The move away from overnight cheaps has been aided by marginally richer US tsys in early Asia-Pac trade.

  • April’s monetary base fell 1.7% Y/Y versus -1.0% in March but failed to have any appreciable impact on the market.
  • Without any meaningful domestic headlines, local participants appear content to eye US tsys ahead of Euro Area CPI (Apr) later today and the FOMC policy decision tomorrow.
  • Cash JGBs are 0.2bp richer to 1.7bp cheaper with the 2-year zone the strongest and the 20-year zone the weakest. The benchmark 10-year yield is 0.8bp higher at 0.415%, below the BoJ's YCC limit of 0.50%.
  • Swaps curve bear steepens with swap spreads wider out to the 10-year zone and narrower beyond.
  • The MoF is also scheduled to sell Y6.3tn 3-month bills and conduct a Liquidity Enhancement Auction For OTR 1-5 Year JGBs.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.