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Fed Chair Powell's testimony put a bid into....>

JGBS
JGBS: Fed Chair Powell's testimony put a bid into futures overnight after the
contract started post-Tokyo trade on the back foot, following the impetus seen
in the broader global core FI markets.
- The contract managed to finish the overnight session above Tokyo settlement
levels owing to Powell's remarks, which left a July rate cut from the Fed firmly
on the table.
- As a reminder, yesterday saw the cash curve bull steepen.
- The local docket is very limited today, with focus turning to an enhanced
liquidity auction for off the run 5-15.5 Year paper.
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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