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Overnight Surge In Futures Mostly Unwound, Local Reaction Awaited

JGBS

The broader bid in core FI markets drove JGB futures higher during overnight trade, with the contract taking out technical resistance in the process, before the pullback from best levels in U.S. Tsys allowed JGBs to ease back, hitting the bell 4 ticks above Tokyo settlement levels.

  • In local news, the expected extension of a state of emergency in Tokyo has been confirmed, with the Tokyo Olympics set to be conducted with no fans.
  • The local docket is sparse on Friday, with 3-month bill supply and money stock data due to be released.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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