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BOJ Rinban Operations Suggest Support For JGBs In Afternoon

JGBS

This morning’s BoJ Rinban operations saw negative spreads and generally lower offer cover ratios (1-3-year: 2.45x, 5-10year: 2.13x, 10-25-year: 2.64x and 25-year+: 3.46x), suggest some slight support for the various JGB buckets in early rounds of the Tokyo afternoon session.

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