Free Trial

JGB futures sit a touch lower than.............>

JGBS
JGBS: JGB futures sit a touch lower than settlement on the back of a
headline-light session, last trading 4 ticks lower on the day, sticking within a
tight range.
- The latest 30-Year JGB auction was underwhelming, even after the super-long
end gave up its early outperformance heading into supply. The bid has crept back
into longer dated Japanese paper on the back of the latest JGB auction, as the
cover ratio climbed back above 4.00x (although the previous auction set a very
low benchmark both in terms of cover ratio and overall performance), with the %
allotted at the high yield moderating. Worth highlighting that the low price
missed dealer exp. (just), as proxied by the BBG poll ahead of the auction.
- This has left the cash curve a touch flatter on the day, with some light twist
flattening apparent.
- The BoJ's 5-10 Year Rinban operations will provide the highlight for
participants on Friday.
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.