Free Trial

Futures Richer & At Session Highs At Lunch


At the Tokyo lunch break, JGB futures are richer and at session highs, +27 compared to the settlement levels.

  • There hasn’t been much in the way of domestic drivers to flag, outside of the previously outlined BoJ Opinion Summary for the December MPM.
  • Cash US tsys are dealing 1-2bps richer across the major benchmarks in muted Asia-Pac dealing.
  • Cash JGBs are richer across benchmarks beyond the 1-year zone (+2.3bps), with yields -0.6bp (3-year) to -2.2bps (5-year). The benchmark 10-year yield is 2.0bps lower at 0.615% versus the recent low of 0.555% (20 Dec).
  • Swaps are richer across maturities, with rates 1.4bp to 2.5bps lower. Swap spreads are tighter.
  • Today, the local calendar also sees November Housing Starts. Further out this week sees November Retail Sales and Industrial Production (flash reading).

To read the full story



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.