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Fresh Move Higher As BoJ Announces Second Round OF BoJ Rinban Ops

JGBS

JGB futures firm as the BoJ takes the unconventional step of coming to market with a second round of Rinban operations in one day (details available in previous bullet), with the contract now +60, tagging fresh session highs in the process. 40s are now 8.5bp richer on the day, while 7s have outperformed surrounding bonds, owing to the surge in futures. The BoJ is serious about asserting its commitment to YCC it seems, with 10-Year yields now 3bp off the peak of the permitted -/+0.25% range.

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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