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Global Matters Dominate Overnight

JGBS

JGB futures finished overnight dealing -7, with the initial richening in post-Tokyo trade and U.S. CPI-related vol. giving way to weakness linked to the firmer than expected annual U.S. CPI prints and some hawkish utterances from the U.S. Fed.

  • On the BoJ front we have seen former Japanese Vice Finance Minister Sakakibara (“Mr Yen”) tell BBG that he believes the government’s nominee to succeed Kuroda as Governor of the BoJ, Ueda, may look to raise interest rates in Q423.
  • Domestic headline flow has been limited outside of that.
  • Looking to the local docket, the focal point on Wednesday will be the latest round of BoJ Rinban operations covering 1- to 3- & 5- to 25+-Year JGBs.
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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