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A decent 10-Year auction out of Japan there,...>

JGBS
JGBS: A decent 10-Year auction out of Japan there, as the cover ratio moves
higher despite the Y500bn jump in auction size (although the previous auction's
cover gave a pretty low base for comparison), elsewhere, the low price topped
dealer exp. (100.35, per the BBG poll), as the width of the price tail held
steady and % allotted at the high yield fell.
- Whether it was relative value plays or the carry and roll attraction against
the rest of the curve, dealers were seemingly comfortable mopping up the
additional supply.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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