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Futures Reverse Downtick

JGBS

JGB futures benefitted from the bid in U.S. Tsys during overnight trade, adding 16 ticks come the bell, more than reversing the weakness in play since Monday's Tokyo settlement.

  • The latest Bloomberg survey points to expectations that Japanese PM Suga's government will unveil a fiscal support package totalling somewhere between Y20-30tn in the coming months, in order to garner support ahead of the expected election campaign in the autumn.
  • Elsewhere, speculation continues to do the rounds re: the spectator situation at the upcoming Tokyo Olympics.
  • BoJ Rinban operations covering 1- to 3- and 5- to 10-Year JGBs headline the local docket on Wednesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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