BOJ: Said to See Hiking Cycle Extending Beyond 0.75%, According to BBG Sources
Dec-12 12:07
Bloomberg report that the BoJ are said to see a hiking cycle likely extending beyond 0.75%, but are said to be no closer to pinpointing the neutral rate, according to sources.
- That BoJ story helping add some mild pressure to USDJPY, which briefly prints down at 155.78 before bouncing.
- This story commenting directly on what an updated BoJ neutral rate range could look like - we go into more detail in our policy exclusive earlier this week, writing: "The Bank of Japan will maintain its current 1-2.5% estimated range for the neutral interest rate following the next hike widely expected at the Dec. 18-19 meeting, and will continue to assess whether its policy rate remains appropriately accommodative"
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GILT SYNDICATION: 1.75% Sep-38 linker: Priced
Nov-12 12:05
- Reoffer: 99.065 to yield 1.8319%
- Size: GBP4.25bln (MNI expected GBP GBP4.5-5.5bln)
- Spread set earlier at 1.125% Nov-37 linker (GB00B1L6W962) +10.50bps (guidance was +10.50 / +10.75bps)
- Hedge Ratio: 55% vs 1.125% Nov-37 linker. Spot ref: 93.49 / 1.7269%
- Books closed in excess of GBP69bln (inc JLM interest of GBP3.96bln)
- ISIN: GB00BMY62Z61
- Settlement Date: 13-November-2025 (T+1)
- JLMs: GSIB (B&D/DM) / JPM / NOMURA / SANTANDER
- Timing: TOE 11:58GMT / FTT immediately
Source: Market source and MNI colour
More details to follow
GILT SYNDICATION: 1.75% Sep-38 linker: Priced
Nov-12 12:02
- Reoffer: 99.065 to yield 1.8319%
- Hedge Ratio: 55% vs 1.125% Nov-37 linker (ISIN: GB00B1L6W962)
- Size: GBP4.25bln (MNI expected GBP GBP4.5-5.5bln)
- Spread set earlier at 1.125% Nov-37 linker (GB00B1L6W962) +10.50bps (guidance was +10.50 / +10.75bps)
- Books closed in excess of GBP69bln (inc JLM interest of GBP3.96bln)
- ISIN: GB00BMY62Z61
- Settlement Date: 13-November-2025 (T+1)
- JLMs: GSIB (B&D/DM) / JPM / NOMURA / SANTANDER
Source: Market source and MNI colour
More details to follow
MNI: US MBA: MARKET COMPOSITE +0.6% SA THRU NOV 07 WK
Nov-12 12:00
- MNI: US MBA: MARKET COMPOSITE +0.6% SA THRU NOV 07 WK
