TYH3 deals at 113-04, +0-03, in the middle of its 0-05+ range on volume of ~86K.
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TYH3 deals at 114-07, +0-07, a touch off the top of its 0-08+ range on volume of ~71K.
JGB futures pull away from best levels to print -15 ahead of the bell. There hasn’t been much in the way of meaningful headline flow to tout, with ex-BoJ board member Shirai pointing to the benefits of a more flexible inflation target (a matter that is already being considered by the BoJ and government, per recent press reports), while suggesting that a fundamental shift in monetary policy is unlikely, stressing that the recent YCC tweak was based on promoting sustainable monetary policy.
Schatz futures traded higher last week and the contract remains closer to its recent highs. 105.817 marks a firm resistance, the 20-day EMA - a break would strengthen short-term bullish conditions. The latest recovery is considered corrective - for now. A reversal lower would refocus attention on 105.360, the Jan 2 trend low and bear trigger. Clearance of this support would confirm a resumption of the broader downtrend.