CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

MNI BRIEF: Banxico Set To Consider Larger Rate Cuts - Minutes

MNI: Fed’s Collins Calls For Gradual Approach To Rate Cuts

MNI JAPAN NOV HOUSEHOLD SPENDING -0.4% Y/Y; OCT -1.3%

EZ/UK Bond Supply Calendar: EU Synd; IT Auction, BoE APF Mon

MNI: EUROZONE NOV RETAIL SALES +0.1% M/M, +1.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JGBS: Futures Slightly After US Tsys Shortened Session

JGBS
BulletAPACFixed Income BulletsJapanMarkets

In post-Tokyo trade, JGB futures are weaker, -5 compared to settlement levels, after US tsys finished Thursday's shortened session mildly richer for the National Day of Mourning for former President Carter. However, they finished off session bests as longs were squared ahead of Friday's headline December employment and UofM sentiment data. Wall Street was closed. 

  • Challenger job cut announcements continued their recent run of Y/Y increases in December, and were at the high end of recent Decembers, but don't show any signs of a sharp increase. Challenger job cuts increased 11% Y/Y to 38.8k in December, rounding out a year that saw Y/Y job cut announcements stabilize/fall a touch in 1H24 before climbing again in 2H24.
  • Today, the local calendar will see Household Spending, and Leading and Coincident Indices.
  • This comes after yesterday's firmer labor earnings data. The BoJ's regional economic report noted yesterday a mixed wages view.
  • Our Tokyo-based policy team noted: "Japanese businesses have provided a mixed picture on wage hikes this year, with some reporting increases to ensure necessary workers amid the labour shortage, while others have noted no, or reduced hikes, the Bank of Japan’s regional economic report showed on Thursday."
  • Market pricing for the Jan BoJ meeting is less than 50% priced for a 25bps hike.
208 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.

In post-Tokyo trade, JGB futures are weaker, -5 compared to settlement levels, after US tsys finished Thursday's shortened session mildly richer for the National Day of Mourning for former President Carter. However, they finished off session bests as longs were squared ahead of Friday's headline December employment and UofM sentiment data. Wall Street was closed. 

  • Challenger job cut announcements continued their recent run of Y/Y increases in December, and were at the high end of recent Decembers, but don't show any signs of a sharp increase. Challenger job cuts increased 11% Y/Y to 38.8k in December, rounding out a year that saw Y/Y job cut announcements stabilize/fall a touch in 1H24 before climbing again in 2H24.
  • Today, the local calendar will see Household Spending, and Leading and Coincident Indices.
  • This comes after yesterday's firmer labor earnings data. The BoJ's regional economic report noted yesterday a mixed wages view.
  • Our Tokyo-based policy team noted: "Japanese businesses have provided a mixed picture on wage hikes this year, with some reporting increases to ensure necessary workers amid the labour shortage, while others have noted no, or reduced hikes, the Bank of Japan’s regional economic report showed on Thursday."
  • Market pricing for the Jan BoJ meeting is less than 50% priced for a 25bps hike.