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A quick look at the breakdown in the the.......>

JGBS
JGBS: A quick look at the breakdown in the the latest round of BoJ Rinban ops
points to nothing of real note on the offer to cover side, with notional offered
amounts quite steady vs. the previous ops across the respective buckets.
- Small upticks were seen in the 3-5 Year & 25+ buckets' cover ratios.
Elsewhere, the size of the 10-25 Year ops was cut today so a smaller round of
offers has been offset, boosting the offer to cover ratio for that bucket.
- 1-5 Year buckets saw the yield spreads move further into positive territory,
with the spreads applied to the 10-25+ Year buckets moving into positive
territory vs. the negative spreads seen last time out. 
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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