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Futures Soften Overnight

JGBS

The impact of Tuesday’s hawkish Fedspeak, which more than unwound the richening impulse surrounding the journey of U.S. House Speaker Pelosi to Taiwan, pressured JGB futures in overnight dealing, with the contract going out a touch above wort levels of post-Tokyo trade, -25 ticks vs. settlement.

  • There hasn’t been much in the way of meaningful domestic news flow to digest since the Tokyo close, which leaves wider macro matters and the Tokyo assessment of the overnight swings in markets at the fore ahead of the re-open.
  • The latest round of BoJ Rinban operations headlines the domestic docket on Wednesday (covering 1- to 5- & 10- to 25-Year JGBs), with final services and composite PMI survey readings also due.
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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