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Yields Flat To A Touch Lower Across The Curve

JGBS

JGB futures print -5 at typing, while the major cash JGB benchmarks run little changed to ~1.0bp richer on the day. There has been a lack of notable domestic news flow on Thursday.

  • A lukewarm round of 20-Year JGB supply saw the cover ratio tick higher vs. prev. auction, tail narrow a little vs. prev. auction, while the low price matched broader dealer expectations (proxied by the BBG poll). 20-Year cash JGBs have richened by ~1.0bp in the wake of the auction after some modest concession during the morning, while JGB futures haven't shown anything in the way of a tangible reaction.
  • Looking ahead, Tokyo CPI data headlines the local docket on Friday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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