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A Touch Firmer As Equities Tick Lower

JGBS

JGBs saw a modest bid creep in during early Tokyo trade. Much of the move came before the latest bid in U.S. Tsys, with little to drive the move, outside of a downtick in local equity indices. Local data was mixed, with household spending missing and cash earnings data beating. 40-Year paper has outperformed on the move, despite the presence of a 30-Year JGB auction in the afternoon session. Futures +6 at the lunch bell, cash 40s sit ~2.5bp firmer on the day.

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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