Free Trial
US STOCKS

Late Equity Roundup

STOCKS

Earning on Tap After the Bell

EURJPY TECHS

Resistance Remains Exposed

PIPELINE

$3.65B USB 2Pt Launched

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Steeper To Start The Week

JGBS

JGBs were pressured by the global matters that we have touched on elsewhere, while familiar tones re: policy direction and inputs from BoJ Governor Kishida, alongside continued headwinds for Japanese PM Kishida’s cabinet approval ratings, provided little in the way of meaningful market reaction.

  • JGB futures came under some secondary pressure during the Tokyo afternoon, with the contract printing -22 into the close, while the bearish steepening of the curve extended as the day wore on, leaving the major cash JGB benchmarks running little changed to 8bp cheaper ahead of the bell. 10-Year yields were capped by their proximity to the upper end of the BoJ’s permitted trading band.
  • The latest round of BoJ Rinban operations (covering 1- to 3-, 5- to 10- & 25+-Year JGBs) failed to provide any meaningful support, with the breakdown of the results somewhat unremarkable in offer/cover terms.
  • Looking ahead, preliminary GDP data and 5-Year JGB supply headline domestic matters on Tuesday.
157 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

JGBs were pressured by the global matters that we have touched on elsewhere, while familiar tones re: policy direction and inputs from BoJ Governor Kishida, alongside continued headwinds for Japanese PM Kishida’s cabinet approval ratings, provided little in the way of meaningful market reaction.

  • JGB futures came under some secondary pressure during the Tokyo afternoon, with the contract printing -22 into the close, while the bearish steepening of the curve extended as the day wore on, leaving the major cash JGB benchmarks running little changed to 8bp cheaper ahead of the bell. 10-Year yields were capped by their proximity to the upper end of the BoJ’s permitted trading band.
  • The latest round of BoJ Rinban operations (covering 1- to 3-, 5- to 10- & 25+-Year JGBs) failed to provide any meaningful support, with the breakdown of the results somewhat unremarkable in offer/cover terms.
  • Looking ahead, preliminary GDP data and 5-Year JGB supply headline domestic matters on Tuesday.