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CNB Very Likely To Hike By 50bps This Week

JGBS: JGBs have been a little more resilient than their global counterparts in
the early part of Tuesday's session with futures last 6 ticks lower at 151.03.
- The 7-10 Year space has led the way lower as participants await today's
30-Year supply.
- From a technical perspective last week's volatility has resulted in pressure
returning to the 151.17-19 region in JGB futures where the Bollinger band top is
situated. Bulls continue to look for a close above 151.19 to initially target
151.51 2017 highs. The Bollinger band top is the key concern for bulls with
potential to limit follow through. Bears now need a close below 150.89 to ease
bullish pressure and below 150.47 to target 2018 lows.
MNI London Bureau | +44 0203-865-3809 |