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Bull Flattening, 30-Year Supply Eyed

JGBS

The JGB curve bull flattens in early Tokyo dealing, leaning on Tuesday’s bid in wider core global FI markets for support, leaving the major cash JGB benchmarks little changed to 3bp richer. 7s outperform surrounding tenors on the overnight bid in JGB futures, which trade +30, failing to extend on post-Tokyo gains thus far.

  • A wider than expected current a/c surplus during the month of September has done little for the space, with today’s main domestic risk event coming in the form of this afternoon’s 30-Year JGB supply.
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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