Free Trial

JGB futures coiled in the Tokyo morning,.......>

JGBS
JGBS: JGB futures coiled in the Tokyo morning, with the latest uptick failing
ahead of Monday's high. Futures then softened in the afternoon, last -7,
threatening a break below Monday's low. This came about on the back of some
pressure on the long end of the curve, in the wake of a soft 40-Year auction,
with a lack of concession, the recent richening & the line's exemption from BoJ
Rinban ops, as well as some potential background worry re: the BoJ's desire for
a steeper curve, limiting demand at auction. Longer dated swaps seemingly
continue to see receiving interest from abroad, with the 30-Year LCH/JSCC spread
tightening (marginally) again, printing at levels not seen since Nov.
- Japan's gov't nominated Seiji Adachi, chief economist at Marusan Securities,
as a successor to BOJ board member Harada, Diet officials confirmed to MNI.
Pending parliamentary approval, Adachi will replace Harada, whose 5-year term
ends Mar. 25. The ruling coalition has a majority in both chambers of the Diet,
so confirmation should be a formality, in a like for like reflationist swap.
- The summary of opinions from the BOJ's most recent MonPol decision & BoJ
Rinban ops covering 1-10 Year paper headline Wednesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.