The JGB 10-Year future gapped higher ahead.....>

JGBS: The JGB 10-Year future gapped higher ahead of the Tokyo open as news

outlets said late Wednesday ET they expect Powell to be picked by Pres. Trump

for Fed Chair on Thursday ET. The 10-Year took a 5 tick bid after Japanese

Bond/Stock flow came in then declined after BOJ buying operations kept purchases

the same. 

- The JGB further gained as the Yen climbed and the dollar sagged whilst tax

reform announcements and Fed chair picks became more real and scheduled times

were announced, 1115amEt for Tax Reforms and 1500pmET for Fed Chair decision. 

- The 10-Year price ended up 0.08 at 150.52.

- Bond and stock flow figures showed an increase in the amount of foreigners

buying Japanese bonds (+Y81.7bln from -Y410bln prior) and a decrease in the

Japanese buying of foreign bonds(-Y1084.2 from +Y10.9bln prior.) 

- Japanese Monetary Base figures showed a slowing in pace, 14.5% from 15.6% and

Japan Consumer Confidence figures although surveyed to slow from 43.9 to 43.6

they came in at 44.5. 

- JGB bond yields are down, the 10-Year down 0.8bp at 0.055.