MNI China Daily Summary: Friday, February 3

MNI BRIEF: Professional Forecasters Up Inflation Outlook: ECB

MNI BRIEF: China To Fully Reopen Borders With HK and Macau

US Treasury Auction Calendar

Coming up in the Asia-Pac session on Monday

MNI DATA FORECASTS: RBA, Riksbank In Focus

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
AUD

AUDUSD Lower Again In Early Trading On Weaker Commodities

NZD

Pressured In Early Trade

JPY

Falls On Amamiya For BoJ Governor Report

MNI

Coming up in the Asia-Pac session on Monday

ASIA

Coming up in the Asia-Pac session on Monday

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
Market News Topics

PREVIEW: 30-Year JGB Supply Due

JGBS AUCTION
HomepageBond Market NewsBulletMarketsFixed Income News

The Japanese MOF will today sell Y900bn of 30-Year JGBs, re-opening JB#76. The MOF last sold 30-Year debt on October 12, the auction drew cover of 2.887x at an average yield of 1.480%, average price of 98.32, high yield of 1.496%, low price of 98.00, with 91.3793% of bids allotted at the high yield.

  • Outright yields are off cycle highs, with some stabilisation in the sector observed over the last couple of sessions after fresh cheapening crept in last week.
  • This may facilitate some outright demand, with the ongoing volatility and high FX-hedging costs associated with offshore bonds already generating a well-documented home bias within the Japanese investor cohort.
  • Still, this volatility has weighed on demand in some of the more recent super-long auctions out of Japan, even with outright yields at the more compelling end of the recent ranges.
  • The confinement of the financing of the latest supplementary budget to the shorter end of the curve may remove one of the headwinds for demand.
  • 30s tagged fresh cycle steeps vs. 20s in recent sessions, with the recent widening perhaps bringing some relative value demand into the fray.
  • Overall, it’s a hard one to judge on the demand front.
  • Results due at 0335GMT/1235JST.
203 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 Y900bn of 30-Year JGBs, re-opening JB#76. The MOF last sold 30-Year debt on October 12, the auction drew cover of 2.887x at an average yield of 1.480%, average price of 98.32, high yield of 1.496%, low price of 98.00, with 91.3793% of bids allotted at the high yield.

  • Outright yields are off cycle highs, with some stabilisation in the sector observed over the last couple of sessions after fresh cheapening crept in last week.
  • This may facilitate some outright demand, with the ongoing volatility and high FX-hedging costs associated with offshore bonds already generating a well-documented home bias within the Japanese investor cohort.
  • Still, this volatility has weighed on demand in some of the more recent super-long auctions out of Japan, even with outright yields at the more compelling end of the recent ranges.
  • The confinement of the financing of the latest supplementary budget to the shorter end of the curve may remove one of the headwinds for demand.
  • 30s tagged fresh cycle steeps vs. 20s in recent sessions, with the recent widening perhaps bringing some relative value demand into the fray.
  • Overall, it’s a hard one to judge on the demand front.
  • Results due at 0335GMT/1235JST.