JGBS: 7Y Leas Modest Sell-off On Data-Light Day
In Tokyo morning trade, JGB futures are weaker, -9 compared to settlement levels, on a local data-light day.
- Japan MOF To Auction Y400.0 Bln Of 40-Year Govt Bonds Jul 23.
- (Bloomberg) -- Japanese government bonds remain under pressure amid reports that the ruling coalition may fail to secure a majority in Sunday’s upper house election.
- Cash US tsys are flat to 1bp richer, with a flattening bias, in today’s Asia-Pac session after yesterday’s post-CPI sell-off.
- Cash JGBs are 1bp richer (40-year) to 2bps cheaper (futures-linked 7-year) across benchmarks. The benchmark 10-year yield is 1.1bp higher at 1.592% after setting a fresh cycle high of 1.598% yesterday.
- Swap rates are little changed. Swap spreads are tighter out to the 30-year.
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