MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

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: Futures Weaker & Near Session Lows After BoJ Policy Decision

JGBS
GlobalBulletAPACFixed Income BulletsJapanRegionMarkets

JGB futures are weaker and near Tokyo session lows, -11 compared to the settlement levels.

  • The BoJ largely maintained its assessment of the overall economy and major economic components, although it slightly upgraded its assessment of private consumption, following the Board's decision to hold the policy rate steady at 0.25% today.
  • The bank said private consumption has been on a "moderate increasing trend despite the impact of price rises and other factors.” The previous view held that private consumption "has been resilient.”
  • “Inflation expectations have risen moderately,” the BoJ added.
  • The bank also maintained its view on future inflation, saying that in the second half of the projection period to March 2027, the medium- to long-term inflation expectations are likely to be at a level that is generally consistent with the price stability target.
  • Cash US tsys are 1-2bps richer, with a steepening bias, in today’s Asia-Pac session after yesterday’s modest twist-steepening. There is no US data today, but Fed speakers return. Data will resume on Monday with flash PMIs.
  • Cash JGBs are weaker across benchmarks with yields 0.3bp higher (20-year) to 3.1bps higher (1-year).
  • Swap rates are 1-2bps higher. Swap spreads are mixed.
187 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 weaker and near Tokyo session lows, -11 compared to the settlement levels.

  • The BoJ largely maintained its assessment of the overall economy and major economic components, although it slightly upgraded its assessment of private consumption, following the Board's decision to hold the policy rate steady at 0.25% today.
  • The bank said private consumption has been on a "moderate increasing trend despite the impact of price rises and other factors.” The previous view held that private consumption "has been resilient.”
  • “Inflation expectations have risen moderately,” the BoJ added.
  • The bank also maintained its view on future inflation, saying that in the second half of the projection period to March 2027, the medium- to long-term inflation expectations are likely to be at a level that is generally consistent with the price stability target.
  • Cash US tsys are 1-2bps richer, with a steepening bias, in today’s Asia-Pac session after yesterday’s modest twist-steepening. There is no US data today, but Fed speakers return. Data will resume on Monday with flash PMIs.
  • Cash JGBs are weaker across benchmarks with yields 0.3bp higher (20-year) to 3.1bps higher (1-year).
  • Swap rates are 1-2bps higher. Swap spreads are mixed.