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US 10YR FUTURE TECHS

(U1)‌‌ Bullish Theme Intact

OPTIONS

Expiries for Jun15 NY cut 1000ET (Source DTCC)

GILT SUMMARY

Still Offered

FED

NY Fed Operational Purchase

JGBS
JGBS: JGB futures sit 1 tick lower than yesterday's settlement, sticking to a
tight range in the Tokyo morning session, yields trade marginally mixed across
the curve, lacking clear direction, even as the Nikkei 225 trades 0.7% lower on
the day.
- This comes after 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)
- 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