Japanese Yen (Jpy)
USDi: Solid PPI; BEs nudge a little higher; CPI on the ho...
BEs nudged a little higher with a strong PPI providing a green light against an inflation-friendly/neutral backdrop. CPI is now on the horizon.
JPY Swaps: Long-end flatter as SL outperforms
10-year JPY swaps have been outperforming their underlying JGBs, and swap spread there is tighter. The curve is flatter from the 10y point.
USDi: Fed props up front BEs but nominal rally weighs on ...
Today’s Fed TIPS purchase helped support front-end BEs but the bull flattening nominal rally weighed on longer tenors.
JPY Swaps: Pre-auction 5y bid; 20y payers
JPY rates market is lacking a clear direction today. 5-year saw some pre-auction paying, while 20-year has been slightly better bid.
USDi: BEs snap back up; Fed TIPS purchase eyed; Minutes
BEs snapped back higher today after yesterday’s flow-driven hiccup. Inflationistas eye tomorrow’s Fed TIPS purchase operation.
JPY Swaps: 2-10y bid; SL better offered
Trading in swaps has not been overly active at the beginning of the new fiscal year. 2-10y saw paying and the superlong-end has been better offered.
JPY Bonds: Superlong opportunity; 20y spread richening
Superlong JGBs are seen outperforming in a rangebound environment. An extension in the richening trend could push the 20y swap spread back to zero.
USDi: BEs sellers emerge amid a tepid energy rally
BEs sellers emerge today as an energy rally lost much of its upward momentum intraday while nominal yields ground lower in the backdrop.
JPY Swaps: Ultralong spreads tick up as 40y swaps trade
There has been trade in ultralong JPY swaps while 20-30 year spreads have edged up. The newest BOJ board member won't push for more easing.
JPY Swaps: 10-20y given; Front-end price actions
The rally in US treasuries saw receiving interest in 10-20y JPY swaps. The front-end saw price action due to the FX move. 2s/10s flattened out.