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Bear Steepening Ahead Of Supply

JGBS

The JGB curve bear steepened during the morning session, with the early uptick in the Nikkei 225 and impending 40-Year JGB supply the driving factors behind that particular impulse, leaving the major JGB benchmarks running little changed to 2bp cheaper across the curve. Still, it has been a fairly limited session for JGBs, with muted domestic headline flow and no real bounce for futures even as equities worked away from best levels (the Nikkei 225 was little changed at the break). That leaves JGB futures -6, just off worst levels of the session.

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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