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Wider Central Bank Speak Weighed On Futures Overnight

JGBS

JGB futures softened overnight, with hawkish ECB & Fedspeak applying some pressure, leaving the contract -18 vs. Tokyo settlement.

  • The monthly domestic labour market report has already crosses, revealing an unchanged unemployment rate and little movement in the job-to-applicant ratio, meaning that the release will maintain its usual non-market moving status.
  • There hasn’t been much else in the way of domestic news flow to digest since yesterday’s local market close.
  • Retail sales data will cross shortly, with fairly steady rates of M/M & Y/Y rises expected, while 2-Year JGB supply is due in the early part of the Tokyo afternoon.
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JGB futures softened overnight, with hawkish ECB & Fedspeak applying some pressure, leaving the contract -18 vs. Tokyo settlement.

  • The monthly domestic labour market report has already crosses, revealing an unchanged unemployment rate and little movement in the job-to-applicant ratio, meaning that the release will maintain its usual non-market moving status.
  • There hasn’t been much else in the way of domestic news flow to digest since yesterday’s local market close.
  • Retail sales data will cross shortly, with fairly steady rates of M/M & Y/Y rises expected, while 2-Year JGB supply is due in the early part of the Tokyo afternoon.