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Futures Slightly Weaker Overnight, Light Local Calendar

JGBS
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

In post-Tokyo trade, JGB futures are slightly weaker, -2 compared to settlement levels after US tsys finished with a mild twist-steepening of the 2/10 curve (4bps lower to 1bp higher) on a news flow light session.

  • As measured by the Conference Board, US consumer confidence rose more than expected to a six-month high of 103.3, with the expectations component up to a one-year high.
  • Projected US rate cut pricing through year-end gained: Sep'24 cumulative -34bps (-32bps), Nov'24 cumulative -67bps (-65bps), Dec'24 -105bps (-99bps).
  • US equities remain in a consolidation mode, with the market awaiting Nvidia’s earnings report tomorrow.
  • The US calendar today will see MBA Mortgage Applications, US Tsy auctions including $28bn 2-year & $70bn 5-year and Atlanta Fed Bostic discussing his economic outlook.
  • Today, the local data calendar is empty. However, BoJ Deputy Governor Himino will speak to business leaders at 1030 JST (0130 GMT). There are also BoJ Rinban Operations, which cover 3-25-year+ and inflation-indexed JGBs.
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In post-Tokyo trade, JGB futures are slightly weaker, -2 compared to settlement levels after US tsys finished with a mild twist-steepening of the 2/10 curve (4bps lower to 1bp higher) on a news flow light session.

  • As measured by the Conference Board, US consumer confidence rose more than expected to a six-month high of 103.3, with the expectations component up to a one-year high.
  • Projected US rate cut pricing through year-end gained: Sep'24 cumulative -34bps (-32bps), Nov'24 cumulative -67bps (-65bps), Dec'24 -105bps (-99bps).
  • US equities remain in a consolidation mode, with the market awaiting Nvidia’s earnings report tomorrow.
  • The US calendar today will see MBA Mortgage Applications, US Tsy auctions including $28bn 2-year & $70bn 5-year and Atlanta Fed Bostic discussing his economic outlook.
  • Today, the local data calendar is empty. However, BoJ Deputy Governor Himino will speak to business leaders at 1030 JST (0130 GMT). There are also BoJ Rinban Operations, which cover 3-25-year+ and inflation-indexed JGBs.