The AOFM has released its weekly issuance slate:
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JGB futures bounce from the lows witnessed in the final overnight session of ’22, and now operate close to levels seen at the end of the final Tokyo session of last year, +25 on the day.
Cash Tsys have opened 0.5-1.5bp cheaper, with some light bear steepening apparent, as local participants fade the richening seen on Tuesday. TYH3 deals at 112-28, +0-07+, in the middle of its narrow 0-02+ range. A thin data calendar in Asia-Pac hours leaves participants on headline watch.
Japanese MoF data covering the week ending 23 December revealed the largest ever round of net weekly sales of Japanese bonds on the part of foreign investors (Y4.8623tn), with the BoJ’s surprise tweak to its YCC settings facilitating those particular flows.