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Futures Weaker Overnight Despite A Modest Richening For US Tsys

JGBS

In post-Tokyo trade, JGB futures are weaker, closing -10 compared to settlement levels, despite US tsys finishing 2-4bps richer in the NY session. That said, the session was a predictably uneventful and range-bound in the lead-up to the Thanksgiving holiday.

  • There were few surprises in the FOMC minutes, Fed officials believed that tighter financial conditions could lessen the need for more monetary tightening as they kept rates on hold. Earlier in the session softer than forecast Home Sales added a layer of support to the space.
  • There is a thin docket in Asia today, further out we have Initial Jobless Claims and the UofMich Consumer Sentiment Survey.
  • Today, the local calendar is empty, apart from BOJ Rinban operations covering 1-10-year and 25-year+ JGBs.
  • A reminder that the local market is closed tomorrow for the Labour Thanksgiving holiday. National CPI is due for release on Friday.

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