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Belly Continues To Underperform

JGBS

Little to really add to our previous commentary, with JGB futures meandering around session lows, while the belly of the curve continues to present the only area of weakness, even as the 20+-Year zone on the of the curve firms. Swaps rates are off session highs, with that curve now twist flattening, as super long swap rates move in sympathy with the bid in the longer end of the JGB curve. Swap spreads are flat to wider 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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