MNI BRIEF: Cuts Should Be Timely But Cautious - Buba's Nagel

MNI BRIEF: ECB Policy Decisions Based On Broad Analysis- Lane

MNI BRIEF: Less Than Half Canada Firms See Inflation Obstacle

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

MNI: BELGIUM NOV BNB BUSINESS SURVEY -11.1

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 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.