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Quiet Start To Asia-Pac Trade, 5-Year JGB Supply In Focus

BOND SUMMARY

It has been a relatively uneventful start to the session. T-Notes trade -0-03+ at 131-23, hugging a 0-03 range. Cash Tsy yields sit 0.2-0.9bp lower across a marginally flatter curve. Eurodollar futures trade unch. to -1.0 tick through the reds.

  • JGB futures have wavered around neutral levels, last sit at 151.26, just 2 ticks below Wednesday's settlement. Cash curve has steepened a tad, as the super-long end underperforms. The space shrugged off a beat in Japan's BoP current account balance. Focus moves to domestic consumer confidence & Eco Watchers Survey, as well as auctions for 5-Year JGBs & 6-Month Bills.
  • ACGB yields trade -1.0bp to +1.0bp across the curve, with belly outperforming. YM last seen +0.5 & XM +1.0 as we type. Bills trade -1 to +1 tick through the reds. There is little of note on the local docket today.

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