November 25, 2022 00:17 GMT
JGBs are cheapening in early trade, with firmer than expected Tokyo CPI data applying the pressure. That leaves the major cash benchmarks 0.5-2.0bp cheaper, while futures are -15, extending on their modest overnight downtick.
- Elsewhere, services PPI data was a touch softer than expected, while Japanese Finance Minister Suzuki once again pointed to a need for a perpetual plan re: financing the country’s defence spending plans, although stressed that no firm decisions had been made on that front.
- 40-Year JGB supply provides the highlight of the Japanese docket ahead of the weekend.