MNI: FED CHAIR JEROME POWELL SCHEDULED TO SPEAK JULY 2

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI BRIEF: CNB Cuts 2W Repo Rate By 50Bps To 4.75%

MNI China Daily Summary: Thursday, June 27

MNI BRIEF: China EU In Close Communication - MOFCOM

MNI: FED BALANCE SHEET TOTAL ASSETS -$21B TO $7.231T IN WEEK

US Treasury Auction Calendar

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Weaker, As Bear Trend Remains Intact, Wages & BoJ Speak Next Week

JGBS
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

JGB futures sit close to session lows in recent dealings. JBM4 was last at 143.02, -.18 versus settlement levels. This remains consistent with the broader technical backdrop, with a bear trend in place. Lows from yesterday rest sub 142.90.

  • Post the earlier data flurry there hasn't been much in the way of major drivers. The BoJ bond ops were unchanged from the prior outcome, while the 3 month bill sale didn't impact sentiment.
  • The data earlier showed close to expected Tokyo May CPI outcomes. Some of the core measures showed further deceleration versus the April y/y pace and services inflation looked to have cooled.
  • Other data was mixed with retail sales better than expected (+1.2% m/m, versus 0.6% forecast), but IP fell 0.1% m/m (against a +1.5% forecast).
  • In the cash JGB space, yields sit higher. The 10yr firming back towards 1.07%. The 30yr is up 2bps to 2.23%. In the swaps space, the 10yr is back above 1.09%.
  • Next week Q1 Capex is out along with April wages. We also have BoJ speak, along with 10y and 30y debt auctions.
181 words

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.

JGB futures sit close to session lows in recent dealings. JBM4 was last at 143.02, -.18 versus settlement levels. This remains consistent with the broader technical backdrop, with a bear trend in place. Lows from yesterday rest sub 142.90.

  • Post the earlier data flurry there hasn't been much in the way of major drivers. The BoJ bond ops were unchanged from the prior outcome, while the 3 month bill sale didn't impact sentiment.
  • The data earlier showed close to expected Tokyo May CPI outcomes. Some of the core measures showed further deceleration versus the April y/y pace and services inflation looked to have cooled.
  • Other data was mixed with retail sales better than expected (+1.2% m/m, versus 0.6% forecast), but IP fell 0.1% m/m (against a +1.5% forecast).
  • In the cash JGB space, yields sit higher. The 10yr firming back towards 1.07%. The 30yr is up 2bps to 2.23%. In the swaps space, the 10yr is back above 1.09%.
  • Next week Q1 Capex is out along with April wages. We also have BoJ speak, along with 10y and 30y debt auctions.