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BOJ Rinban Operations Showed Mixed Results

JGBS

This morning’s BOJ Rinban operations showed mixed results, with negative spreads but higher offer cover ratios (1-year: 1.65x, 1-3-year: 2.88x, 5-10-year: 2.35x and 25-year+: 2.8x). On balance, the results suggest the possibility of some slight support in early rounds of the Tokyo afternoon session.

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