MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

JGBS: Cheaper Ahead Of US CPI Data

JGBS
GlobalBulletAPACFixed Income BulletsJapanRegionMarkets

JGB futures are holding weaker, -10 compared to settlement levels, after dealing in a relatively narrow range in today’s Tokyo session.

  • Outside of the previously outlined PPI and International Investment Flows data, there hasn't been much by way of domestic drivers to flag.
  • Today's 5-year bond auction presented mixed demand metrics. The auction price exceeded dealer expectations but the cover ratio was relatively stable and the auction tail was marginally longer than last month.
  • Cash US tsys are flat to 2bps richer across benchmarks, with a steepening bias, in today’s Asia-Pac session after yesterday’s heavy session. The market’s focus is on today’s US CPI data. Weekly Jobless claims, a few more Fed speakers (Cook, Barkin, and Williams), and the re-opening of the 30Y Bond auction are also on tap.
  • Cash JGBs are mostly cheaper across benchmarks, with yields flat (2-3-year) to 3bps higher (1-year). The benchmark 5-year yield is 0.4bp higher at 0.553% after today’s supply.
  • Swap rates are flat to 1bp higher out to the 30-year and 5bps higher beyond. Swap spreads are generally tighter apart from the 40-year.
  • Tomorrow, the local calendar will see M2 & M3 Money Stock data alongside BoJ Rinban Operations covering 1-3-year and 5-25-year JGBs.
196 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 weaker, -10 compared to settlement levels, after dealing in a relatively narrow range in today’s Tokyo session.

  • Outside of the previously outlined PPI and International Investment Flows data, there hasn't been much by way of domestic drivers to flag.
  • Today's 5-year bond auction presented mixed demand metrics. The auction price exceeded dealer expectations but the cover ratio was relatively stable and the auction tail was marginally longer than last month.
  • Cash US tsys are flat to 2bps richer across benchmarks, with a steepening bias, in today’s Asia-Pac session after yesterday’s heavy session. The market’s focus is on today’s US CPI data. Weekly Jobless claims, a few more Fed speakers (Cook, Barkin, and Williams), and the re-opening of the 30Y Bond auction are also on tap.
  • Cash JGBs are mostly cheaper across benchmarks, with yields flat (2-3-year) to 3bps higher (1-year). The benchmark 5-year yield is 0.4bp higher at 0.553% after today’s supply.
  • Swap rates are flat to 1bp higher out to the 30-year and 5bps higher beyond. Swap spreads are generally tighter apart from the 40-year.
  • Tomorrow, the local calendar will see M2 & M3 Money Stock data alongside BoJ Rinban Operations covering 1-3-year and 5-25-year JGBs.