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Twist Flattening Extends A Touch, Space May Soften After Lunch

JGBS

The early twist flattening observed in JGBs extended a touch in the Tokyo morning, with the major benchmarks now running 1.5bp cheaper to 1.5bp richer, pivoting around 7s, while JGB futures hit the lunch bell +13, edging away from their overnight peak.

  • The space may be subjected to some pressure during the early rounds of afternoon trade in Tokyo given the cheapening observed in U.S. Tsys, which came as a result of U.S. President Biden flagged that it was “unlikely” that the fatal missile strike witnessed in Poland on Tuesday stemmed from a missile launched from Russia.
  • Domestic headline flow has been limited at best.
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The early twist flattening observed in JGBs extended a touch in the Tokyo morning, with the major benchmarks now running 1.5bp cheaper to 1.5bp richer, pivoting around 7s, while JGB futures hit the lunch bell +13, edging away from their overnight peak.

  • The space may be subjected to some pressure during the early rounds of afternoon trade in Tokyo given the cheapening observed in U.S. Tsys, which came as a result of U.S. President Biden flagged that it was “unlikely” that the fatal missile strike witnessed in Poland on Tuesday stemmed from a missile launched from Russia.
  • Domestic headline flow has been limited at best.