MNI China Daily Summary: Wednesday, January 8

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JGBS: Subdued Start To Week

JGBS
BulletAPACFixed Income BulletsJapanAustraliaMarkets

In Tokyo morning trade, JGB futures are weaker but off session lows, -7 compared to settlement levels.

  • The Jibun Bank/S&P Global Manufacturing PMI Index for December rose to 49.6 from 49 in November.
  • Cash US tsys are slightly richer, with a steepening bias, in today’s Asia-Pac session after Friday’s heavy session.
  • Cash JGBs are little changed across benchmarks. The benchmark 10-year yield is 0.4bp lower at 1.121% versus the cycle high of 1.1330% set earlier today.
  • Swap rates are little changed apart from the 30-year (-3bps). Swap spreads are mixed.
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In Tokyo morning trade, JGB futures are weaker but off session lows, -7 compared to settlement levels.

  • The Jibun Bank/S&P Global Manufacturing PMI Index for December rose to 49.6 from 49 in November.
  • Cash US tsys are slightly richer, with a steepening bias, in today’s Asia-Pac session after Friday’s heavy session.
  • Cash JGBs are little changed across benchmarks. The benchmark 10-year yield is 0.4bp lower at 1.121% versus the cycle high of 1.1330% set earlier today.
  • Swap rates are little changed apart from the 30-year (-3bps). Swap spreads are mixed.