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US EURODLR OPTIONS

Mid-2023 Downside Insurance

POLAND

WIG20 Index Surges Back Above 200DMA Resistance

FED

NY Fed Operational Purchases

US TSY FUTURES

BLOCK, 5s/Eris Swaps

JGBS
JGBS: JGB futures stuck to a tight range in the morning session, with a brief
look below yesterday's worst levels seen. Contract went into the lunch break 3
ticks lower on the day, with yields marginally higher across the curve.
- The BoJ's latest round of 1-10 Year Rinban ops saw softer cover ratios but
wider spreads. Details of the operations were as follows:
- 1-3 Year: offer to cover 2.67x (prev. 3.20x), average yield spread +0.007%
(prev. +0.001%)
- 3-5 Year: offer to cover 2.77x (prev. 3.35x), average yield spread +0.004%
(prev. +0.001%)
- 5-10 Year: offer to cover 1.99x (prev. 2.71x), average yield spread +0.004%
(prev. -0.012%)
- The most interesting matter in the summary of opinions of the BoJ's most
recent MonPol decision was that one board member emphasised that a review of the
Bank's monetary policy was becoming a necessity as muted growth and stubbornly
low inflation continue.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com