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JGBS: Futures Weaker Overnight, PPI Data & 5Y Supply Due

JGBS
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In post-Tokyo trade, JGB futures are weaker, -9 compared to settlement levels, after US tsys finished near late session lows following the release of the FOMC minutes for the September policy meeting. 

  • "Noting that inflation was still somewhat elevated while economic growth remained solid and unemployment remained low, some participants observed that they would have preferred a 25 basis point reduction of the target range at this meeting, and a few others indicated that they could have supported such a decision," the report said.
  • The market’s focus now turns to September’s US CPI measures later today. Core non-housing service CPI inflation is expected to ease modestly from 0.33% in August.
  • Weekly Jobless claims, a few more Fed speakers (Cook, Barkin and Williams) and the 30Y Bond auction re-open are also on tap.
  • “Japan life insurers' appetite for overseas bonds may stay weak as they gear up for the Bank of Japan's scaling back of government-bond purchases, and as the 30-year JGB yield stabilizes above 2%.” (per BBG)
  • Today, the local calendar will see PPI, Weekly International Investment Flows and Bank Lending data alongside 5-year supply.
  • BoJ Deputy Governor Ryozo Himino is scheduled to speak at 16:35 at a Bloomberg News event in Tokyo.
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In post-Tokyo trade, JGB futures are weaker, -9 compared to settlement levels, after US tsys finished near late session lows following the release of the FOMC minutes for the September policy meeting. 

  • "Noting that inflation was still somewhat elevated while economic growth remained solid and unemployment remained low, some participants observed that they would have preferred a 25 basis point reduction of the target range at this meeting, and a few others indicated that they could have supported such a decision," the report said.
  • The market’s focus now turns to September’s US CPI measures later today. Core non-housing service CPI inflation is expected to ease modestly from 0.33% in August.
  • Weekly Jobless claims, a few more Fed speakers (Cook, Barkin and Williams) and the 30Y Bond auction re-open are also on tap.
  • “Japan life insurers' appetite for overseas bonds may stay weak as they gear up for the Bank of Japan's scaling back of government-bond purchases, and as the 30-year JGB yield stabilizes above 2%.” (per BBG)
  • Today, the local calendar will see PPI, Weekly International Investment Flows and Bank Lending data alongside 5-year supply.
  • BoJ Deputy Governor Ryozo Himino is scheduled to speak at 16:35 at a Bloomberg News event in Tokyo.