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JGBS: Cash Bonds Dealing Mixed, BoJ July MPM Minutes & 40Y Supply Tomorrow

JGBS
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JGB futures are weaker, -8 compared to settlement levels.

  • Outside of the previously outlined PPI Services, there hasn't been much by way of domestic drivers to flag.Nationwide Dept Sales data is due later today.
  • Cash US tsys are ~1bp cheaper in today’s Asia-Pac session after yesterday’s bull-steepener. Today's US calendar will see MBA Mortgage apps, New Home Sales, $28B 2Y FRN, $62B 17W bill auctions and $70B 5Y.
  • Cash JGBs are dealing mixed across benchmarks with yield swings bounded by +2.4bps (1-year) and -2.9bps (40-year). The benchmark 10-year yield is 0.1bp lower at 0.815% versus the cycle high of 1.108%.
  • Swap rates are little changed out to the 10-year and 2bps higher beyond. Swap spreads are mixed.
  • Tomorrow, the local calendar will see BoJ Minutes of the July Meeting alongside 40-year supply. Machine Tool Orders data is also due.
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JGB futures are weaker, -8 compared to settlement levels.

  • Outside of the previously outlined PPI Services, there hasn't been much by way of domestic drivers to flag.Nationwide Dept Sales data is due later today.
  • Cash US tsys are ~1bp cheaper in today’s Asia-Pac session after yesterday’s bull-steepener. Today's US calendar will see MBA Mortgage apps, New Home Sales, $28B 2Y FRN, $62B 17W bill auctions and $70B 5Y.
  • Cash JGBs are dealing mixed across benchmarks with yield swings bounded by +2.4bps (1-year) and -2.9bps (40-year). The benchmark 10-year yield is 0.1bp lower at 0.815% versus the cycle high of 1.108%.
  • Swap rates are little changed out to the 10-year and 2bps higher beyond. Swap spreads are mixed.
  • Tomorrow, the local calendar will see BoJ Minutes of the July Meeting alongside 40-year supply. Machine Tool Orders data is also due.