MNI China Press Digest March 18:Inflows, Consumption, Industry

MNI: PBOC Net Injects CNY235.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1733 Tues; -0.54% Y/Y

MNI WATCH: BCB To Hike 100BP As Signaled, Eyes On May Guidance

MNI BRIEF: China To Release Childcare Subsidies, Boost Income

MNI BRIEF: PBOC Mulls New Tools Targeting Consumption

EZ/UK Bond Supply Calendar: UK, Finland Due Tuesday

EZ/UK T-Bill Calendar: 6-Month ESM-Bill Auction on Tuesday

MNI: US JAN BUSINESS INVENTORIES +0.3%; SALES -0.8%

GERMANY: Handelsblatt Report on Lingering Uncertainties Ahead of Bundestag

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JGBS: Subdued Session, Rice Prices Surge, Q4 GP On Monday

JGBS
BulletAPACFixed Income BulletsJapanMarkets

JGB futures are stronger, +4 compared to settlement levels, but well off the session’s best levels. 

  • Given that today’s 5-year auction was offering a yield approximately 10-15bps higher than last month, marking a cyclical peak, mixed demand metrics were viewed as somewhat disappointing.
  • Outside of the previously outlined International Investment Flow data, there hasn't been much by way of domestic drivers to flag.
  • Japan will sell 210,000 tons of rice from its emergency stockpiles as households are paying record prices for the grain.  The average retail price for 5 kilograms of rice surged 82% to 3,688 yen ($24) in the week of Jan. 27th compared with a year ago, according to the Ministry of Agriculture, Forestry and Fisheries. (per BBG)
  • Cash US tsys are little changed in today’s Asia-Pac session after yesterday’s solid rally which took yields back to pre-CPI levels from Wednesday. Details of January's PPI offered some hope for easing price pressures in the PCE Deflator
  • Cash JGBs are little changed across benchmarks out to the 10-year and 1-2bps richer beyond.
  • Swap rates are 1-2bps higher. Swap spreads are wider.
  • On Monday, the local calendar will see Q4 GDP (P) and December IP (F).
191 words

To read the full story

Close

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.

JGB futures are stronger, +4 compared to settlement levels, but well off the session’s best levels. 

  • Given that today’s 5-year auction was offering a yield approximately 10-15bps higher than last month, marking a cyclical peak, mixed demand metrics were viewed as somewhat disappointing.
  • Outside of the previously outlined International Investment Flow data, there hasn't been much by way of domestic drivers to flag.
  • Japan will sell 210,000 tons of rice from its emergency stockpiles as households are paying record prices for the grain.  The average retail price for 5 kilograms of rice surged 82% to 3,688 yen ($24) in the week of Jan. 27th compared with a year ago, according to the Ministry of Agriculture, Forestry and Fisheries. (per BBG)
  • Cash US tsys are little changed in today’s Asia-Pac session after yesterday’s solid rally which took yields back to pre-CPI levels from Wednesday. Details of January's PPI offered some hope for easing price pressures in the PCE Deflator
  • Cash JGBs are little changed across benchmarks out to the 10-year and 1-2bps richer beyond.
  • Swap rates are 1-2bps higher. Swap spreads are wider.
  • On Monday, the local calendar will see Q4 GDP (P) and December IP (F).