MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Futures Push To Session Lows At Lunch, 30Y Yield AT highest level Since 2013

JGBS

At the Tokyo lunch break, JGB futures have extended the move into negative territory, -17 compared to settlement levels, despite Tokyo CPI data printing lower than expected for the core and core-core measures. August's annual industrial production and retail sales did, however, print on the high side of expectations. Later today sees Housing Starts and Consumer Confidence data.

  • The cash JGB curve has bear-steepened, with yields 0.3bp to 1.3bps higher. The benchmark 10-year yield is 1.0bp higher at 0.771%, above BOJ's YCC soft limit of 0.50% but below its hard limit of 1.0%. It is also just below the cycle high of 0.774% set today.
  • The 30-year JGB has cheapened, sending the yield to the highest in a decade amid a selloff in global debt. The yield rose to 1.741% in Tokyo dealing today, a peak last seen in 2013, and follows the 20-year yield reaching the highest level since 2014 on Thursday. (See link)
  • Swap rates are slightly mixed across the curve. Swap spreads are tighter across maturities.
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.