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JGBS: Cash Bonds Twist-Flatten, 20Y Supply Tomorrow, Natl. CPI Friday

JGBS
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JGB futures have swung into negative territory, -2 compared to settlement levels, after closing stronger overnight.

  • Outside of the previously outlined trade balance data, there hasn't been much by way of domestic drivers to flag.
  • No. of condominium units supplied in Tokyo and surrounding areas rose 23.4% from a year earlier to 23 units in October. Machine Tool Orders data is due later.
  • Cash US tsys are flat to 1bp cheaper, with a slight steepening bias, in today’s Asia-Pac session after yesterday’s modest haven demand-induced gains.
  • Cash JGB curve has twist-flattened, with yields 2bps higher to 2bps lower. The benchmark 20-year yield is 0.5bp lower at 1.890%.
  • The swaps curve has bear-steepened, with rates flat to 4bps higher. Swap spreads are mostly wider.
  • Tomorrow, the local calendar will see weekly International Investment Flows alongside 20-year supply. National CPI is due for release on Friday.
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JGB futures have swung into negative territory, -2 compared to settlement levels, after closing stronger overnight.

  • Outside of the previously outlined trade balance data, there hasn't been much by way of domestic drivers to flag.
  • No. of condominium units supplied in Tokyo and surrounding areas rose 23.4% from a year earlier to 23 units in October. Machine Tool Orders data is due later.
  • Cash US tsys are flat to 1bp cheaper, with a slight steepening bias, in today’s Asia-Pac session after yesterday’s modest haven demand-induced gains.
  • Cash JGB curve has twist-flattened, with yields 2bps higher to 2bps lower. The benchmark 20-year yield is 0.5bp lower at 1.890%.
  • The swaps curve has bear-steepened, with rates flat to 4bps higher. Swap spreads are mostly wider.
  • Tomorrow, the local calendar will see weekly International Investment Flows alongside 20-year supply. National CPI is due for release on Friday.