Free Trial

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

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.

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%.