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JGB futures ticked back from best levels in....>

JGBS: JGB futures ticked back from best levels in early afternoon trade
Thursday, on the back of the latest round of trade war reports, although the
move was minimal. A bid crept back in during the overnight session.
- As a reminder, futures were bid from the off yesterday, with little in the way
of headline flow apparent, some pointed to trend following accounts as the
driver. 10-Year JGB yields remain in negative territory.
- The BoJ left the size of its 5-10 Year Rinban operations unchanged.
- Japanese Q/Q GDP provided a marginal miss vs. broader exp. although it was in
line with the MNI consensus). Looking at the breakdown, the BoJ will be
encouraged by stronger than expected business spending data, although net
exports provided a drag on GDP, as worries around the global trade
backdrop/economic environment intensify.
- Focus today moves to 10-Year JGBi supply.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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