May 15, 2024 23:22 GMT
Futures Rebound with US Tsys, Q1 GDP & 20yr Supply On Tap Today
JGBS
JGB futures tracked higher post the Tokyo close on Wednesday. JBM4 ended at 144.17, +.26, amid positive spill over from higher US Tsy futures.
- The US data mix of broadly in line CPI but softer retail sales has raised easing hopes, which boosted Tsy futures sentiment.
- For JGB futures we remain within ranges for the past month, 143.61, marking late April lows, while 144.88 marked earlier May highs.
- Today we have Q1 GDP on tap, which is expected to print negative (-1.2% q/q annualized is projected versus +0.4% from Q4). The detail will also be eyed in terms of private consumption and business investment. We also have weekly investment flow figures, while later on March IP prints.
- We also have the 1yr and 20yr debt sales on tap.
- To recap, cash JGB yields finished up around 0.955% for the 10yr, the 30yr at 2.06%. 10yr swap rates were just under 1.01%.
151 words