MNI INTERVIEW2: Trump Stagflationary For Eurozone-ECB's Wunsch

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

MNI: Canada Apr-Aug Budget Deficit Doubles On Spending

MNI China Daily Summary: Friday, October 25

MNI BRIEF: China's Next NPC Meeting Scheduled For Nov 4 to 8

MNI: PBOC Net Injects CNY184.2 Bln via OMO Friday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL OCT INDEX 70.5

MNI: BELGIUM OCT BNB BUSINESS SURVEY -12.8

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JGBS: Cash Bonds Cheaper With US Tsys, 20Y Supply Tomorrow

JGBS
APACJapanAustraliaBulletGlobalFixed Income BulletsRegionMarkets

JGB futures are holding an uptick, +1 compared to settlement levels, after giving back earlier gains. 

  • The International Monetary Fund on Tuesday lowered its forecast for Japan’s gross domestic product this year to 0.3% from the 0.7% made in July but raised its 2025 growth forecast to 1.1% from July’s 1.0%, the IMF’s World Economic Outlook showed.
  • Cash US tsys are 2-3bps cheaper in today’s Asia-Pac session after yesterday’s modest extension of Monday’s heavy session. Today’s US calendar will see MBA Mortgage Applications, followed by existing home sales & the Federal Reserve Beige Book.
  • Cash 2- to 40-year JGBs are flat to 1bps cheaper. The benchmark 10-year yield is 0.5bp higher at 0.983% versus the cycle high of 1.108%.
  • The 40-year JGB yield climbed to 2.542% today, its highest level in 16 years, amid growing speculation that the BoJ will push ahead with interest rate increases in the coming months. The yield is currently 0.9bp higher at 2.532%
  • Swap rates are little changed.
  • The local data calendar has been empty today. Tomorrow will see Oct preliminary PMIs and weekly investment flows alongside 20-year supply. 
179 words

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.

JGB futures are holding an uptick, +1 compared to settlement levels, after giving back earlier gains. 

  • The International Monetary Fund on Tuesday lowered its forecast for Japan’s gross domestic product this year to 0.3% from the 0.7% made in July but raised its 2025 growth forecast to 1.1% from July’s 1.0%, the IMF’s World Economic Outlook showed.
  • Cash US tsys are 2-3bps cheaper in today’s Asia-Pac session after yesterday’s modest extension of Monday’s heavy session. Today’s US calendar will see MBA Mortgage Applications, followed by existing home sales & the Federal Reserve Beige Book.
  • Cash 2- to 40-year JGBs are flat to 1bps cheaper. The benchmark 10-year yield is 0.5bp higher at 0.983% versus the cycle high of 1.108%.
  • The 40-year JGB yield climbed to 2.542% today, its highest level in 16 years, amid growing speculation that the BoJ will push ahead with interest rate increases in the coming months. The yield is currently 0.9bp higher at 2.532%
  • Swap rates are little changed.
  • The local data calendar has been empty today. Tomorrow will see Oct preliminary PMIs and weekly investment flows alongside 20-year supply.