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*** 10-Year JGB futures make fresh highs as....>

JGBS: *** 10-Year JGB futures make fresh highs as the low price on the latest
30-Year auction came in higher than the expected 96.30, with 30-Year cash yields
now moving to fresh lows on the day.
- The auction went well despite some worry surrounding participation heading
into supply. It would appear that the higher outright yield level and relative
cheapness on the curve drummed up demand, with the bid-to-cover ratio sticking
above 5, although moderating from the 6-Year high seen last time out.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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