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

Doji Candle Pattern

US TSYS

Real Yields Climb Vs. Nominals

CANADA

CIBC and RBC On Upcoming GDP

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

PREVIEW: 10-Year JGBi Supply Due

JGBS AUCTION
BulletMarketsFixed IncomeBond Market News

The Japanese MOF will today sell Y200bn of 10-Year JGBis opening JB#27. The MOF last sold 10-Year inflation-indexed debt on February 8, the auction drew cover of 4.198x at a high yield of -0.388%, low price of 103.70, with 48.3443% of bids allotted at the high yield.

  • Note that in spite of the presence of the well-documented global inflationary pressures, Japanese 10-Year breakevens have failed to move stably above 1.00%, showing a lack of faith on the part of markets re: the BoJ getting anywhere near the achievement of its inflationary goal, at least in a stable manner (indeed, the BoJ has conceded as much, stressing that the current inflationary impulse is a result of cost pull, not demand push, inflation). 5-Year/5-Year inflation swaps tell a similar story, last hovering around 0.75% after peaking just below 0.90% earlier this month.
  • Still, the aforementioned inflationary worry should provide a baseline level of demand at today’s auction.
  • Results due at 0435BST/1235JST.
159 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.

The Japanese MOF will today sell Y200bn of 10-Year JGBis opening JB#27. The MOF last sold 10-Year inflation-indexed debt on February 8, the auction drew cover of 4.198x at a high yield of -0.388%, low price of 103.70, with 48.3443% of bids allotted at the high yield.

  • Note that in spite of the presence of the well-documented global inflationary pressures, Japanese 10-Year breakevens have failed to move stably above 1.00%, showing a lack of faith on the part of markets re: the BoJ getting anywhere near the achievement of its inflationary goal, at least in a stable manner (indeed, the BoJ has conceded as much, stressing that the current inflationary impulse is a result of cost pull, not demand push, inflation). 5-Year/5-Year inflation swaps tell a similar story, last hovering around 0.75% after peaking just below 0.90% earlier this month.
  • Still, the aforementioned inflationary worry should provide a baseline level of demand at today’s auction.
  • Results due at 0435BST/1235JST.