Free Trial

Light Steepening Into 20-Year Supply

JGBS

The presence of this afternoon’s 20-Year JGB supply applied some light pressure to the longer end of the JGB curve during the Tokyo morning, with cash JGBs running 1bp richer to 2bp cheaper. Futures hit the lunch bell at unchanged levels, given up their early uptick.

  • Comments from Japanese PM Kishida re: BoJ independence provided nothing in the way of fresh information.
  • Meanwhile, BoJ Governor Kuroda stressed that JPY weakness is becoming a factor re: inflation (this comes after various reports, including one from our own policy team, flagged an incoming upside adjustment to the BoJ’s inflation projection for the current FY).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.