Free Trial

JGB futures finished the morning session.......>

JGBS
JGBS: JGB futures finished the morning session just off the intraday low, after
the contract edged away from opening levels as the Nikkei 225 unwound its early
losses, finishing the morning session +0.9%, while the JPY crosses moved higher.
The afternoon session was a little more limited as the contract hovered around
the lower end of the AM range as local stocks lacked additional upside impetus.
The BoJ left the size of its 1-5 & 10-25 Year Rinban ops unchanged. Offer to
cover ratios as follows: 1-3 Year 2.29 (prev. 3.46), 3-5 Year 3.01 (prev. 2.47),
10-25 Year 2.43 (prev. 3.56), 25+ Year 2.77 (prev. 3.53). The broadly lower
offer to cover ratios likely leant some support in the afternoon, while the
uptick in the 3-5 Year bucket's offer to cover may be a result of some position
squaring ahead of tomorrow's 5-Year supply.
- Yields trade unchanged to marginally positive on the day.
- The aforementioned 5-Year supply headlines tomorrow, with an enhanced
liquidity auction for JGBs with 5-15.5 Years until maturity due on Friday.
Participants also await an address from BoJ's Kuroda & Amamiya Thursday.
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.