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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CROSS ASSET
The 10Y JGB yield touched an intraday high this morning of 0.255%, the highest since Jan 2016, though the current yield advantage for the US (216bp) is the highest since July 2019 with 10Y yields touching 2.55% this morning (highest since May 2019).
- The BoJ's intervention line in the sand for the 10Y JGB, reiterated in this morning's policy operations, is of course 0.25%.
- Assuming US yields can continue to put in new highs (they're only at a 3-year high) and Japanese yields remain capped, upside pressure on dollar-yen looks like it will continue: a move through 124.00 sets up a further move to the Aug 2015 high of 124.63.
Source: BBG, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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