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JGBS: Futures Weaker At Lunch, Local Calendar Empty

JGBS
GlobalBulletAPACFixed Income BulletsJapanRegionMarkets

At the Tokyo lunch break, JGB futures are weaker and near session lows, -19 compared to settlement levels.

  • The Bank of Japan will keep seeking the best timing to raise interest rates again as economic conditions continue to improve, according to former BoJ board member Takako Masai. “It’s really good,” Masai said. “It’s really natural to consider a rate hike for the Bank of Japan.” (per BBG)
  • Cash US tsys are flat to 1bps richer in today’s Asia-Pac session after yesterday’s heavy session. All eyes will now turn to headline nonfarm payrolls where growth is seen accelerating marginally to 150k in September after the weaker-than-expected 142k in August. (See MNI Employment Preview here)
  • Cash JGBs are little changed across benchmarks beyond the 1-year (+3.2bps). The benchmark 10-year yield is 0.4bp higher at 0.837%.
  • Swap rates are little changed out to the 10-year but 3-4bps higher beyond. Swap spreads are mixed.
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At the Tokyo lunch break, JGB futures are weaker and near session lows, -19 compared to settlement levels.

  • The Bank of Japan will keep seeking the best timing to raise interest rates again as economic conditions continue to improve, according to former BoJ board member Takako Masai. “It’s really good,” Masai said. “It’s really natural to consider a rate hike for the Bank of Japan.” (per BBG)
  • Cash US tsys are flat to 1bps richer in today’s Asia-Pac session after yesterday’s heavy session. All eyes will now turn to headline nonfarm payrolls where growth is seen accelerating marginally to 150k in September after the weaker-than-expected 142k in August. (See MNI Employment Preview here)
  • Cash JGBs are little changed across benchmarks beyond the 1-year (+3.2bps). The benchmark 10-year yield is 0.4bp higher at 0.837%.
  • Swap rates are little changed out to the 10-year but 3-4bps higher beyond. Swap spreads are mixed.