BOJ: Fixed Rate Purchase Offer
The BoJ offers to buy an unlimited amount of 5- to 10-Year JGBs at a fixed rate of 0.50%.
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BOJ: Fixed Rate Purchase Offer
The BoJ offers to buy an unlimited amount of 5- to 10-Year JGBs at a fixed rate of 0.50%.
JPY: Yen Rebounds Into Tokyo Fix
Yen volatility remains the main focus point in the G10 space, with a +60pip range for the session so far.
- Demand for yen has been apparent heading into the Tokyo fix. USD/JPY reached an earlier high of 132.22, but we now sit back at 131.60/65, close to fresh lows for the session. There don't appear to be any fresh headline catalysts for the latest round of yen strength.
JGBS: Mixed Start With Futures Off Best Levels As Onshore Matters Joust With Wider Inputs
JGB futures have pulled back from their overnight high to last print +11, with domestic matters (speculation re: the potential for further BoJ policy tweaks and the firmer than expected core Tokyo CPI print), as opposed to the post-U.S. data bid in global core FI observed since Friday’s Tokyo close, seemingly catching the eye of Tokyo participants. Cash JGBs run between 1bp richer and 1bp cheaper, in a non-uniform manner, with 10-Year yields continuing to hover around the upper boundary of the BoJ’s YCC parameters.
