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Heading North


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JGBS: JGB futures last trade 7 ticks softer at 150.60 after a brief foray to
150.69 in early dealing. The BoJ left the size of its Rinban operations covering
the 5-25+ Year buckets unchanged in today's round of operations.
- With little on the table in terms of domestic risk events, focus is likely to
fall on the breakdown of the operations which will as ever be made available in
the Japanese lunch break.
- Futures may have eased back a tad on reports from Kyodo re: comments from a
ruling LDP party official in Japan, who suggested that dissolving the lower
house is one option available to the party in light of the recent political
scandal & fall in PM Abe's approval rating. This would bring the longevity of
Abenomics into question.
- US Tsys have also moved lower, as the US 10-Year yield has breached 3.00%,
which will have added a degree of weight to the space.
- The belly of the cash space is underperforming on the session thus far.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |