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Limited Pre-BoJ Session

JGBS

Cash JGBs run little changed to 1bp cheaper across the curve, with a very modest steepening bias apparent in limited dealing. Note that swap spreads are a touch narrower across the curve, with most of the major swap rates running marginally lower on the session. JGB futures ticked way from overnight lows, as wider global core FI markets nudged away from worst levels of the session, hitting the lunch bell -12. There has been little to note when it comes to local news flow, with this afternoon’s liquidity enhancement auction for off-the-run 1- to 5-Year JGBs providing the focal point of today’s local docket.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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