October 09, 2024 04:46 GMT
JGBS: Sleepy Session Ahead Of FOMC Minutes, PPI & 5Y Supply Tomorrow
JGBS
In afternoon dealings, JGB futures are weaker, -12 compared to the settlement levels.
- Today, the local calendar has been empty, with Machine Tool Orders due later. Tomorrow will see PPI data for September along with Weekly International Investment flows and Bank Lending data.
- Japanese Prime Minister Shigeru Ishiba will dissolve the lower house of parliament on Wednesday afternoon to hold a snap election on Oct. 27 before the Bank of Japan’s policy-setting meeting on Oct. 30-31.
- Cash US tsys are dealing +/-1bp, with a steepening bias, in today’s Asia-Pac session after yesterday’s modest gains. The market awaits today’s September FOMC minutes ahead of CPI/PPI data on Thursday and Friday respectively.
- The cash JGB curve is mildly cheaper, with yields flat to 2bps higher. The benchmark 10-year yield is 1bp higher at 0.937%.
- Swap rates are little changed.
- Tomorrow, the local calendar will see 5-year supply.
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