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A very quiet day for the space, with futures...>

JGBS
JGBS: A very quiet day for the space, with futures sticking to a tight range,
consolidating yesterday's gains. The contract last operates around the mid-point
of its tight range, 1 tick lower on the day.
- Modest bull flattening crept in, with yields out to 20-Years virtually
unchanged, and some minor outperformance noted in the super-long end.
- The latest liquidity enhancement auction for 5-15.5 Year JGBS had little
impact on prices, even as the cover ratio eased and the spread tail widened a
touch, when compared to the previous auction.
- Participants seem to be focused on tomorrow's BoJ MonPol decision, with the
language employed by the BoJ set to come under scrutiny.
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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