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Drawing Support From BoJ Rinban

JGBS

JGB futures firm in early afternoon trade, likely aided by the steady to lower round of offer to cover ratios seen at today's BoJ Rinban ops, which were as follows:

  • 3-5 Year: 1.70x (prev. 1.87x)
  • 5-10 Year: 1.39x (prev. 2.43x)
  • 10-25 Year: 4.78x (prev. 5.71x)
  • Futures last print unchanged on the day, with the short end and belly of the cash JGB curve unwinding most of the modest underperformance that was seen this morning.
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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