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Earlier, broad-based risk-off flows............>

JGBS: Earlier, broad-based risk-off flows mentioned elsewhere outweigh Japan's
better than expected Q2, P GDP print (which was accompanied by +ve revisions),
allowing futures to print all time highs before ticking back to last deal 16
ticks higher on the day.
- As a note, business spending topped exp., with domestic demand contributing to
growth, while net trade detracted.
- 10-Year yields are threatening to break below the lower end of the BoJ's
permitted trading band (-0.20%).
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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