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Bounce Extends After The Lunch Break

JGBS

JGBS firm in the early rounds of afternoon dealing, with futures lodging new highs after a gap higher, while cash JGBs are 0.5-6.5bp richer across the curve, with 10s now leading the bid. The subdued offer/cover ratios in this morning’s BoJ Rinban operations and reports of plans for reduced JGB issuance are the factors providing the early bid. When it comes to technical levels of interest, the post-BoJ high of 146.74 provides the first point to watch.

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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