Swaps - JPY
Listing of structured bonds and vanilla bonds issued in the Asia Pacific markets over the past week.
Longer JPY swap spreads have eased slightly as the market awaits today's BOJ announcement.
JPY swap flow has been light after the long weekend break. Market volatility is not expected to rise near-term.
JPY swaps have been better bid following good US data. The steepness in 2s/10s has limited strong paying in 10-year.
JGB future is weaker despite disappointing domestic data. The slope at the long-end is too steep and some players expect some flattener interests.
The JPY swap curve has followed the USD rates curve flatter, as the market reduces its bet on a near-term tightening by the US Fed.
Price action and flow is lacking in the JPY rates space. What impact will the upcoming LDP election have on the market?
JPY swap rates are steady and flow light. Japan extended its COVID-19 state of emergency. JICA is planning a Social Bond issue.
The bull-flattening of the USD rates curve has backed some price action in the JPY swap market. The curve is flatter to the 20- to 30-year area.
JPY swap trading has been cautious despite a rebound in the cash bond market, as 2s/10s swaps are still too steep.