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A Touch Firmer To Start the Week

JGBS

A downtick in the Nikkei 225 and some residual spill over from Friday's afterhours trade supported the JGB space during the Tokyo session. Futures last +7, a touch shy of highs. The major cash benchmarks richened with 7s leading the way (trading a little over ~1.0bp firmer), perhaps indicating that the move was particularly aided by the bid in futures.

  • 10-Year JGBi supply passed smoothly, while the space looked through a firmer than expected round of April PPI readings.
  • Preliminary Q1 GDP data headlines the local docket on Tuesday.
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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