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Futures Tick Lower Overnight, BoJ Matters Remain At The Fore

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Bond Market NewsBank of Japan (BOJ) Market NewsBulletMarketsFixed Income

JGB futures struggled overnight, shedding 16 ticks come the close of post-Tokyo trade, with BoJ policy remaining at the forefront within the macro sphere.

  • Note that there has been plenty of focus on a BBG article flagging that the BoJ is close to crossing the Rubicon of owning 50% of the entire JGB market (49.2% per BBG’s latest count), with the current month providing the largest ever round of BoJ JGB buying in monthly terms (it is only the 22 June, with plenty of trading days left before the calendar flips to July).
  • BoJ Rinban operations covering 1- to 3, 5- to 10- & 25+-Year JGBs provide the highlight of the local docket on Wednesday, with the outdated minutes of the BoJ’s April meeting also set to be released.
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JGB futures struggled overnight, shedding 16 ticks come the close of post-Tokyo trade, with BoJ policy remaining at the forefront within the macro sphere.

  • Note that there has been plenty of focus on a BBG article flagging that the BoJ is close to crossing the Rubicon of owning 50% of the entire JGB market (49.2% per BBG’s latest count), with the current month providing the largest ever round of BoJ JGB buying in monthly terms (it is only the 22 June, with plenty of trading days left before the calendar flips to July).
  • BoJ Rinban operations covering 1- to 3, 5- to 10- & 25+-Year JGBs provide the highlight of the local docket on Wednesday, with the outdated minutes of the BoJ’s April meeting also set to be released.