MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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 Richer After A Strong Session For US Tsys, 40Y Supply Today

JGBS

In post-Tokyo trade, JGB futures are sharply higher, closing +24 compared to settlement levels, after US tsys finished 7-8bps richer across the major benchmarks. A rally in EGBs spilt over adding support to US tsys, no net German debt issuance and ECB Chief Lagarde looking at PEPP reinvestments were the catalysts. Softer than expected New Home Sales and Dallas Fed Mfg added to the richening impulse in NY.

  • The cash US tsys space was briefly pressured after the latest 2-year auction tailed, however, the downtick was short-lived and gains continued to extend after the 5-year auction showed improving, albeit below average, demand compared to the October auction.
  • The latest MNI piece from our Tokyo policy team, late yesterday, noted economic outlook concerns weighing on the potential for an April exit next year from easy policy settings (see this link).
  • BOJ Governor Ueda also reiterated (before parliament yesterday) that the central bank cannot sufficiently foresee the 2% inflation target yet.
  • The local data calendar is empty today but later this week, capex and jobless figures will be in focus, particularly around shaping the BOJ outlook into early 2024.
  • Today the MOF plans to sell Y700bn of 40-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.