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*Correct* changes twist flattening to twist....>

JGBS
JGBS: *Correct* changes twist flattening to twist steepening.
- JGB futures limited in early Tokyo trade this week, last +8 at 123.24, with
the BoJ leaving the size of its 1-5 & 10-25+ Year Rinban operations unchanged.
- Curve has been more interesting with twist steepening evident, aided by a
Nikkei story which noted that Japan is mulling an increase of 40-Year bond
issuance in FY2020 (by several hundred billion yen). The report also noted that
the government will discuss whether 5- & 10- Year issuance needs to be reduced
if 40-Year issuance is lifted.
- Eyes on headline flow now, with the regional docket Asia-Pac virtually non
existent into European hours.
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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