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Steeper At The Lunch Break

JGBS

JGBs generally trade in line with the levels outlined in our previous update, albeit with futures marginally firmer after the previously alluded to JPY strength/move in U.S. Tsys away from session lows, leaving that contract -9 at the Tokyo lunch break, while the major cash benchmarks run 1bp richer to 1.5bp cheaper, as the curve twist steepens. There hasn’t been anything in the way of meaningful domestic news flow to add to the previously covered stories, with the space seemingly tracking wider market gyrations at present.

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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