US TSY FUTURES: FV/US Steepener Blocked, Potentially Stopping Out

Ueda's press conference continues to have a limited impact on markets, with USDJPY still little changed on the session. Latest headline flow has seen the Governor say that there is no definitive answer on whether long-term rates can be controlled.

In response to a question on whether a return to YCC was possible, he said that he did not want to rule out any future monetary policy tools. 

September is the Front Month for US Equity Futures, but not quite just there for European Indices.

ROLL PACE: The EU roll pce is as of Yesterday, but spread volume dominates in early trade.

US:

• SPX: 57%.
• NDX: 50%.
• DOW: 50%.

EU:

• VGA: 35%.
• DAX: 26% (below Pace).
• FTSE: 48%.

• "BOJ GOV UEDA: MAINTAINED CLOSE COMMUNICATIONS WITH MOF IN TAPERING PLAN" RTRS
• "BOJ GOV UEDA: OUR DECISION ON FUTURE TAPERING REMOVES ONE UNCERTAINTY FOR GOVT IN TERMS OF BOND ISSUANCE PLANNING" RTRS

A reminder that the MOF is scheduled to hold a meeting with market participants on June 20 (Friday)