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Curve Twist Steepens

JGBS

JGB futures moved away from their overnight levels during the Tokyo session, in sympathy with the late NY pullback in U.S. Tsys, with the contract last 3 ticks above yesterday's settlement levels. Cash JGBs have seen some light twist steepening of the curve as a result, with marginal cheapening of 30s and 40s on the day, unwinding the early (modest) bid. There has been little in the way of notable domestic news flow, with BoJ Governor Kuroda failing to offer anything new in his latest parliamentary address.

  • BoJ Rinban operations headline the local docket on Monday, with 20-Year JGB supply probably providing the focal point of next week's local docket.
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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