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A Limited Morning, Offer/Cover Ratios At Rinban Mixed

JGBS

A sedate morning for JGB futures saw the contract edge higher, hitting the lunch break 5 ticks above yesterday's settlement levels, while cash trade saw some outperformance for the 5-20 Year zone of the curve, with shorter dated paper seeing some modest cheapening.

  • The BoJ left the size of its Rinban operations covering 1-10 Year paper at unchanged levels, while the offer to cover ratios were as follows:
  • 1-3 Year: 1.99x (prev. 2.33x)
  • 3-5 Year: 3.96x (prev. 1.70x)
  • 5-10 Year: 2.51x (prev. 1.39x)
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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