- G10 Markets
- Fixed Income
- Foreign Exchange
- Emerging Markets
- MNI Research
- Global Macro
- Political Risk
- About Us
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
- G10 Markets
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
Real-time insight of oil & gas markets
Reporting on key macro data at the time of release.
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
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
The 20-Year sector unwound the concession......>
JGBS: The 20-Year sector unwound the concession that was evident ahead of
today's 20-Year JGB supply as the curve bull flattened in the afternoon session,
aided by the low price of the auction meeting the BBG dealer poll exp. and a
slightly higher cover ratio when compared to the most recent auction. The tail
of today's auction was a touch wider than that seen at last month's 20-Year
offering, although the average yield was ~5bp lower, so that was to be expected.
The auction comes at a time when demand for super-long paper is under question,
in the short term at least, after the BoJ trimmed the size of its 10-25 Year JGB
purchases last week, which triggered a surge in the offer to cover ratio at this
week's 25+ Year Rinban operations (as the measure touched a near 5-Year high).
The latest 10- & 30-Year JGB auctions, conducted on Feb 5 & Feb 7 respectively,
were stellar, with many suggesting that lifers were underweight super-long paper
heading into FY end. Futures ticked away from lows on the back of the auction.
- The space had little reaction to comments from BoJ Gov. Kuroda who noted that
"the BoJ will consider conducting additional easy policy," if the achievement of
the 2% price is undermined due to developments of foreign exchange rates.
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Why Subscribe to
MNI is the leading providerof 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.