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Morgan Stanley See Smaller Than Average JGB Extension

MONTH-END EXTENSIONS

Morgan Stanley expect “the 1-Year+ JGB index to extend by 0.016y, compared to an average month’s extension range of ~0.02-0.06y. A total of ~¥9.4 trillion of issuance will affect the extension and ¥3.1 trillion worth of JGBs will be reinvested.”

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Morgan Stanley expect “the 1-Year+ JGB index to extend by 0.016y, compared to an average month’s extension range of ~0.02-0.06y. A total of ~¥9.4 trillion of issuance will affect the extension and ¥3.1 trillion worth of JGBs will be reinvested.”