Japanese Yen (Jpy)

JPY Swaps: Superlong flow; Ultralong ASW richening

There has been trade in 20-30 year swaps ahead of a superlong JGB auction today. Ultralong asset swaps have richened significantly in recent weeks.

JPY Swaps: Long-dated forward trade idea

Long JPY swap spreads have ticked higher in calm trade. Long-dated forward swaps are considered cheap after the recent push higher.

USDi: BEs ride the retail sails risk-on wave; 5y TIPS sup...

BEs reluctantly rode the risk on move spurred by better retail sale today amid an otherwise tranquil trade. Attention shifts to 5y TIPS auction.

JPY Swaps: 10y well offered; Longs flatter

Disappointing jobs data in the US saw good receiving in 10-year JPY swaps. The long-end of the curve flattened out.

USDi: BEs ebb and flow with broader risk tone; 5y TIPS an...

BEs followed the ebb and flow with broader risk tone, ultimately ending mixed but little changed. Treasury announced new 5y TIPS.

JPY Swaps: Long-end curve to correct flatter; Foreign SL ...

The superlong-end of the JPY swap curve saw receiving from foreign accounts. Dealers expect the long-end of the curve to correct flatter.

USDi: BEs modestly weaker; Dip buying prevails; PPI

BEs traded off with the risk tone today, but ended well off their intraday lows as dip buying prevailed again. It was an upside PPI surprise.

JPY Swaps: 10s/30s steepens more; Light 10y offers

Negative news about Covid-19 vaccine trial has backed light receiving in 10y JPY swaps. 10s/30s swaps steepen more after weak JGB auction.

JPY Swaps: 20y bid steepens 10s/20s swaps

JGB future was a tad lower. Paying in 20-year has steepened 10s/20s swaps.

JPY Swaps: 20y spread wider; 20s/30s seen steeper

The 20y JPY swap spread has pushed to its least negative point in 3 months. The 20s/30s curve steepening trend is expected to continue.