May 28, 2024 00:43 GMT
Steady Start, 10yr Climate Bond Coming Up Later
JGBS
It has been a very steady start for JGB futures. JBM4 last tracked at 143.52, unchanged versus settlement levels. We have remained firmly within the 143.50/60 range since markets opened.
- A slight uptick in US Tsy futures has likely seen some spillover but moves are very marginal at this stage.
- Cash JGB yields are closed to unchanged as well. The 10yr benchmark near 1.03%. It is a similar backdrop in the swap space.
- We did see higher a higher services PPI print for April, coming in at 2.8% y/y, versus 2.3% forecast. See this link for more details.
- Coming up later we have the climate transition 10yr bond issuance.
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