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A Narrow Range Ahead Of The Long Weekend

JGBS

Friday provided another narrow session for JGB futures, ahead of a long weekend for Tokyo, with the contract +2 ticks as we near the close. The cash space saw some modest richening across the curve.

  • There was little of note on the news flow front, with Japanese Chief Cabinet Secretary Kato playing down the need for a COVID-induced state of emergency, at least at present. Elsewhere, we have heard from Finance Minister Aso, who noted that policymakers must stimulate sentiment with fiscal policy.
  • Local data releases saw all 3 CPI metrics print in negative territory, in line with expectations, while the flash PMI readings revealed a slightly sharper rate of contraction across the 3 major metrics.
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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