[MARKET ANALYSIS] 10yr JGBs extend on the rebound from Monday's trough ahead of a 10yr auction

The 10-year Japanese Government Bonds (JGBs) are experiencing a rebound, gaining momentum ahead of an upcoming auction, indicating strong demand despite potential upside limits.

Newsquawk StaffNewswiresPublished On the live feed at 1 more headline followed before this page went public
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[MARKET ANALYSIS] 10yr JGBs extend on the rebound from Monday's trough ahead of a 10yr auction

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USTs: -1.5 ticks

  • Took a breather after yesterday's choppy performance in which prices ultimately gained following the soft ISM Manufacturing data, which showed a surprise deterioration in the headline figure.

Bunds: -8 ticks

  • Marginally retreated from the prior day's best levels with demand constrained overnight ahead of German inflation data and incoming supply.

JGBs: +18 ticks

  • Continues its rebound from Monday's trough but with further upside capped as a 10yr JGB auction looms.
Context

This movement comes amidst a mixed environment for global bonds, where U.S. Treasuries have seen slight weakness and German Bunds face constraints due to upcoming inflation data. Traders should monitor the auction closely, as its outcome could further influence JGB positioning and overall sentiment in the fixed-income market.

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