Free Trial

Overnight Gains Given Back

JGBS

Futures gradually gave back their overnight gains during the Tokyo morning, to hit the lunch bell +1 vs. settlement, with the cash JGB space tracking that move, as the major benchmarks finished the morning session little changed to ~0.5bp richer.

  • The latest round of BoJ Rinban operations revealed the following offer to cover ratios:
  • 1- to 3-Year: 3.43x (prev. 3.47x)
  • 3- to 5-Year: 2.70x (prev. 2.49x)
  • 10- to 25-Year: 2.16x (prev. 3.21x)
  • Note the steady and lower bid/cover ratios in the 1- to 3- and 10- to 25-Year buckets, even with the purchase sizes of the buckets being trimmed by Y25bn and Y50bn respectively from this round of Rinban operations going forwards (which was announced in the Jul-Sep Rinban plan).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.