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(Z1) Off Lows, But Remains Weak


Still Vulnerable

JGBS: The JGB space finished a choppy Monday session largely unchanged, with
super-long paper underperforming following a climb down in tensions on both the
Korean peninsula & across the China-US trade table.
- Yesterday's morning session saw 10-Year JGB yields add 2.0bp at one point,
however, dip buyers came out of the woodwork in the afternoon, with a
constructive round of 1-5 Year Rinban operations at unchanged sizes adding
support to the space.
- Focus today will fall on the 2-Year JGB auction.
- Barclays suggest that "today could see sellers take the upper hand overall
ahead of the 2-Year auction after US Tsys sold off sector overnight."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |