MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Limited Yen Gains From Higher Yields At This Stage

JPY

The yen is firmer against the dollar, but strength remains bounded at this stage. USD/JPY lows so far today came in at 140.70, with the pair back to 140.85/90 in recent dealings. This is still +0.20% strong in yen terms versus Friday NY closing levels. The focus remains on firmer yields, with government bond yields spiking above 0.60% for the 10yr, while the 2yr is back for the first time since January. The 10yr swap rate is at 0.78%, comfortably above Friday session highs, when the BoJ announced the YCC tweak.

  • These moves are driving lower US-JP swap rate differentials, with the 10yr back to +292bps. This is still above mid July lows near +280bps.
  • Earlier data showed slightly better than expected retails (+5.9% y/y, versus +5.4% forecast), while IP was slightly weaker than forecast, -0.4% y/y (+0.3% forecast).
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.