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A tepid session for the space when compared....>

JGBS
JGBS: A tepid session for the space when compared to recent instances.
- JGB futures ground higher in early Tokyo trade, with the BoJ leaving the size
of its 5-10 Year Rinban ops unch. The details of the operation revealed that the
offer/cover ratio edged higher vs. the prev. ops covering the bucket, while the
yield spread moved into -ve territory.
- The Nikkei 225 has unwound its early losses and edged into positive territory,
which has seen JGB futures move back from highs in the afternoon, last +12, with
the curve twist steepening & the belly outperforming.
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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