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JGB futures are holding a touch lower on the...>

JGBS
JGBS: JGB futures are holding a touch lower on the day, with the belly of the
cash curve experiencing some modest underperformance, as local stocks moved
higher and risk appetite recovered, to a degree.
- The latest 5-Year auction was a virtual non-event, with no notable reaction in
the space.
- The auction represented the opening of #JB137, which holds a 0.1% coupon, with
an uptick in the allocation at the high yield and a slight moderation in the
cover ratio apparent, alongside a steady tail width.
- Participants now look to the BOJ's Rinban operations due Wednesday & Friday,
addresses from BOJ Gov. Kuroda (Thursday & Friday) & Dep. Gov. Amamiya
(Saturday), as well as 20-Year JGB supply (Thursday).
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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