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JGBS
JGBS: JGB futures finished 2 ticks above yesterday's settlement, sticking to a
tight range in Tokyo dealing.
- The BoJ left the sizes of its 1-5 & 10-25+ Year JGB purchases unchanged in
today's Rinban operations.
- The offer to cover ratios from the operations can be found below.
- 1-3 Year 2.97 (prev. 2.87)
- 3-5 Year 2.78 (prev. 2.61)
- 10-25 Year 2.56 (prev. 3.16)
- 25+ Year 3.30 (prev. 3.51)
- Some modest curve flattening took place in the afternoon after the offer to
cover ratios in the BoJ's latest round of super-long Rinban ops eased, which
also lent support to futures, as did a negative session for the Nikkei 225.
- Focus next week turns to Japanese GDP data, BoJ Rinban operations as well as
5- & 30-Year JGB supply.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com