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Consolidation Mode But Remains Bearish


Fails To Hold Onto Thursday’s High


'Big Tech' Bill Goes To Senate


Oil Up For Fifth Week On Supply Disruption, Geopolitics

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JGBs cheapened modestly this morning, aided by the impulse from U.S. Tsys, allowing futures to move through their overnight low, hitting the bell just off worst levels, -9 on the day. Cash JGBs were little changed to a touch over 0.5bp cheaper, with 7s providing the largest move on the curve once again (pointing to a futures-driven move there). Paying in the super long end (30+-Year tenors) of the swap curve aided the cheapening impulse, with super-long swap spreads widening a little. 5-Year JGB supply is due this afternoon.