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Rinban, Politics & Kuroda Eyed

JGBS

JGB futures extended their foray lower in overnight dealing, ultimately shedding 4 ticks after correcting from worst levels of post-Tokyo trade, with U.S. Tsy dynamics remaining in the driving seat.

  • A quick reminder that JGB weakness extended into the Tokyo close on Tuesday, with 10-Year yields printing and closing at the highest level witnessed since early June.
  • BoJ Rinban operations covering 3- to 10-Year JGBs are scheduled for Wednesday, but it will be the voting process surrounding the race to become leader of Japan's ruling LDP Party that dominates the wires (please see our earlier bullet for more colour on that matter). Note that BoJ Governor Kuroda will appear on a panel with Fed Chair Powell, ECB President Lagarde & BoE Governor Bailey after hours (16:45 London, 00:45 Tokyo)
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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