© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
MNI

Test, Please Ignore

AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

No Lasting Reaction From BoJ YCC Enforcement

JGBS
Bond Market NewsBank of Japan (BOJ) Market NewsBulletMarketsFixed Income

There isn’t much to add to the earlier commentary, with 7s & super long JGBs leading the way lower during Tokyo morning trade, as the major cash JGBs cheapened by ~0.5-2.0bp, with the weakness in 7s linked to futures, as the contract hit the lunch bell -21.

  • Today’s BoJ Rinban operations yielded the following offer/cover ratios:
  • 1- to 3-Year: 2.65x (prev. 3.31x)
  • 3- to 5-Year: 2.32x (prev. 1.90x)
  • 5- to 10-Year: 2.40x (prev. 2.48x)
  • 10- to 25+-Year: 3.00x (prev. 4.59x)
  • 10-Year JGB yields remain pinned at the upper limit of the BoJ’s permitted -/+0.25% trading band, despite this morning’s BoJ fixed rate operations, will the bank come back in with further fixed rate/Rinban operations later today?
116 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

There isn’t much to add to the earlier commentary, with 7s & super long JGBs leading the way lower during Tokyo morning trade, as the major cash JGBs cheapened by ~0.5-2.0bp, with the weakness in 7s linked to futures, as the contract hit the lunch bell -21.

  • Today’s BoJ Rinban operations yielded the following offer/cover ratios:
  • 1- to 3-Year: 2.65x (prev. 3.31x)
  • 3- to 5-Year: 2.32x (prev. 1.90x)
  • 5- to 10-Year: 2.40x (prev. 2.48x)
  • 10- to 25+-Year: 3.00x (prev. 4.59x)
  • 10-Year JGB yields remain pinned at the upper limit of the BoJ’s permitted -/+0.25% trading band, despite this morning’s BoJ fixed rate operations, will the bank come back in with further fixed rate/Rinban operations later today?