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JGBS: Slightly Weaker In Early Tokyo Dealings

JGBS
BulletMarketsFixed Income NewsHomepage

In early Tokyo dealings, JGB futures are slightly weaker, -6 compared to settlement levels, after closing the overnight session ahead of the weekend with a small gain (+6 versus settlement levels).

  • On Friday, US tsys saw the initial move lower in yields reversed following stronger-than-expected housing construction data. Profit-taking amid overbought conditions was also likely in play.
  • On Friday, the 2-year yield reached a low of 4.8% before finishing 5bps higher at 4.89%. The 10-year yield was unchanged on the day at 4.44% despite a temporary drop to 4.38%. A $15 billion auction of a new 20-year tsy is due later today.
  • TYZ3 is dealing at 108-20, -0-03+, a touch below Friday's closing levels, early in the Asia-Pac session. The space appears marginally pressured as negotiations between Israel and Hamas for the release of hostages have re-started after a pause (BBG).
  • The local data calendar just has condominium sales for Tokyo on tap today.
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In early Tokyo dealings, JGB futures are slightly weaker, -6 compared to settlement levels, after closing the overnight session ahead of the weekend with a small gain (+6 versus settlement levels).

  • On Friday, US tsys saw the initial move lower in yields reversed following stronger-than-expected housing construction data. Profit-taking amid overbought conditions was also likely in play.
  • On Friday, the 2-year yield reached a low of 4.8% before finishing 5bps higher at 4.89%. The 10-year yield was unchanged on the day at 4.44% despite a temporary drop to 4.38%. A $15 billion auction of a new 20-year tsy is due later today.
  • TYZ3 is dealing at 108-20, -0-03+, a touch below Friday's closing levels, early in the Asia-Pac session. The space appears marginally pressured as negotiations between Israel and Hamas for the release of hostages have re-started after a pause (BBG).
  • The local data calendar just has condominium sales for Tokyo on tap today.