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JGB futures took out previously flagged key....>

JGBS
JGBS: JGB futures took out previously flagged key resistance in overnight trade,
with futures grinding higher on the latest round of coronavirus worry, building
on the strong rally seen in the Tokyo session. Contract added 17 ticks, closing
overnight trade at 153.65, with bulls now looking to 154.04, the 61.8%
retracement of the Sep-Dec 2019 decline.
- Worth flagging that the Nikkei has reported that "All Nippon Airways will
temporarily stop flying between Kansai International Airport in Osaka and China
as the coronavirus outbreak eats into passenger traffic." Elsewhere, a Japanese
health official noted that the country is "at a crossroads" re: the virus.
- The latest round of comments from the Japanese MoF, in lieu of a meeting
between MoF, BoJ & FSA officials yielded little in the way of surprises re:
recent market moves.
- Coronavirus developments continue to snatch attention, with a 15.5-39 Year JGB
liquidity enhancement auction scheduled for later today.
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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