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JGB futures reclaimed 151.00 in Wednesday's....>

JGBS
JGBS: JGB futures reclaimed 151.00 in Wednesday's afternoon session, and went
out at best levels.
- There was little in the way of news flow apparent, with the long end's modest
outperformance from the morning session extending, allowing the curve to flatten
further in the Tokyo afternoon, as 30-Year yields finished 2.0bp lower on the
day.
- Worth noting that late on Tuesday BBG sources suggested that the Japanese MOF
may reduce 20-Year issuance next FY (similar to earlier RTRS reports), with
super-long end demand exp. from lifers.
- The Nikkei has reported that Japan will spend >Y2.0tn to mitigate the effects
of the planned sales tax hike, due in 2019.
- There is a liquidity enhancement auction for off the run 5-15.5 Year JGBs
today, ahead of the long holiday weekend.
- CPI data is also due shortly.
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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