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JGBS AUCTION

Japanese MOF sells Y599.3bn 40-Year JGBs:

INDIA

State Debt Sale Smaller Than Indicated

JGBS AUCTION

PREVIEW: 40-Year Supply Due

SOUTH KOREA

Surge In Imports Dragged On GDP Says ING

BOND SUMMARY

A mixed morning for markets with core fixed income generally a bit higher
and European peripheral spreads a bit wider but equities are more mixed
with European equities generally a little lower and US equity futures
generally a little higher.

  • Spain has seen a rise in the number of Covid cases over the weekend
    but there has been no real divergence between Spanish spreads and
    other European peripheral spreads this morning (despite Spanish
    equities underperforming). Covid case numbers will continue to be
    watched globally.
  • This week will be dominated by Phase 4 of the US fiscal response
    with negotiations likely to begin this week while Wednesday's FOMC
    meeting will be closely watched for any changes to forward guidance.
  • TY1 futures are up 0-4 today at 139-22+ with Bund futures up 0.32 at
    176.41 and Gilt futures up 0.24 at 138.14.
MNI London Bureau | +44 203-865-3820 | tim.davis@marketnews.com