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A tight session for futures, with light........>

JGBS
JGBS: A tight session for futures, with light pressure becoming apparent in
early afternoon trade, which saw a print below the bottom of the morning range,
before the contract rebounded, last -2 vs. settlement.
- The pressure came from the offer/cover ratios in the latest round of BoJ 1-10
Year Rinban ops edging higher, as the spreads in the ops widened (1-5 Year
spreads were still in -ve territory, 5-10 Year spreads were marginally
positive).
- Curve has twist steepened, with the long end underperforming.
- A reminder that Japanese markets will observe a holiday on Monday.
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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