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Curve Twist Steepens

JGBS

The combination of the previously flagged comments from BoE Governor Bailey and the impending round of 30-Year JGB supply have seemingly applied some steepening pressure to the JGB curve, with the major benchmarks running 0.5bp richer to 1.5bp cheaper.

  • 30+-Year paper cheapens, even with 7- to 20-Year paper sitting marginally richer on the day.
  • 7s benefit from the overnight bid in futures, with that contract coming under light pressure on the re-open, but sticking to a tight range, last +8.
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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