Free Trial

Super-Long Rinban Ops Offer/Cover Jumps

JGBS

Futures edged lower as we moved through the Tokyo morning, finishing -4 at the lunch bell.

  • Yields were marginally mixed across the cash curve.
  • Local data saw industrial production come in a touch better vs. exp., while the retail sales readings were largely in line with the broader consensus.
  • The BoJ left the size of its 3-5 & 25+ Year Rinban purchases unchanged, with offer to cover ratios as follows:
  • 3-5 Year: 2.11x (prev. 2.85x)
  • 25+ Year: 7.46x (prev. 3.93x)
  • Focus will obviously fall on the performance of the super-long end during early afternoon trade, given the jump in the latter offer/cover ratio outlined above.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.