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JGBS

JGB futures coiled on Monday, finishing +6, while the long end of the cash JGB curve underperformed, which likely stemmed from the light underperformance in longer dated U.S. Tsys during Friday's session and generally risk-positive start to the new trading week (although the broad risk-positive move has faded from extremes and wasn't particularly fierce).

  • The latest BoJ Tankan survey saw all of the major survey metrics edge closer to the neutral 0 level as they topped exp., although all of the readings remained in negative territory. Meanwhile, the large firms' CapEx estimates missed expectations, surprisingly printing in negative territory.
  • Participants now look to a government meeting re: COVID-19, which will be held after hours today.
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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