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Cover Ratio Bounces From Multi-Year Lows At 10-Year Auction

JGBS

The outright cheapening and carry and rolldown on offer allowed the cover ratio to tick higher at today's 10-Year JGB auction, after last month's soft offering saw the metric register a multi-year low. Still, the tail saw a slight widening in length vs. the prev. auction, with the low price missing broader dealer exp. (which stood at 99.90, per the BBG dealer poll), as some worry re: the global monetary policy/inflation dynamic & domestic fiscal situation remain evident.

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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