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JGB futures moved higher in early dealing,.....>

JGBS
JGBS: JGB futures moved higher in early dealing, in sympathy with the broader
risk appetite trends that had been observed since the onset of the NY afternoon
on Thursday, which allowed the yield curve to flatten.
- The Nikkei 225 has moved back from worst levels, which allowed JGBs to pare
some of their gains, although the curve remains flatter on the day.
- From a technical perspective JGB futures have now breached Monday's high,
showing briefly above the 50-DMA (150.25), with bulls looking for a close above
to turn attention to the 150.38 Fib level. 149.95 remains the base for JGB
futures for now.
- The space discounted the latest round of local CPI data, which was virtually
in line with exp.
- The BOJ left the size of its Rinban operations covering the 10-25+ Year
buckets unchanged, the offer to cover ratios can be found below:
- 10-25 Year 3.50 (prev. 2.70), 25+ Year 3.52 (prev. 3.16).
- Focus now turns to comments from BOJ Gov. Kuroda due later today.
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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