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JGB futures were quick to close the opening....>

JGBS
JGBS: JGB futures were quick to close the opening gap lower, even with domestic
equities trading higher (albeit finishing off best levels), as the
aforementioned risk factors drove core FI market flows in early Asia trade.
Futures 8 ticks higher vs. yesterday's settlement ahead of the close, but have
failed to test the overnight session high.
- Curve has twist steepened, with smaller than average month-end extensions
doing little to support the longer end. 2s are well bid in the wake of
yesterday's solid auction.
- Local data was mixed, with Tokyo CPI a little softer on net, labour market
data unchanged, retail sales mixed and flash industrial production stronger.
- The BoJ's Feb Rinban outline is set to be released after hours.
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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