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Soft U.S. CPI Allows Futures To Recover Early Overnight Dip, Rinban Eyed

JGBS

JGB futures ultimately finished the overnight session 4 ticks above Tokyo settlement levels, drawing support from the bid in the U.S. Tsy space after some early post-Tokyo weakness.

  • Nikkei 225 futures eased overnight, while the impulse from softer than expected U.S. CPI data is clear. This will likely provide at least a modest degree of support around the Tokyo re-open.
  • BoJ Rinban operations covering 1- to 10-Year JGBs headline the local docket on Wednesday, with core machine orders data also due to hit. A reminder that Thursday will bring JGB supply in the form of 20-Year paper.
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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