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Friday saw the latest tweak to the BoJ's.......>

JGBS
JGBS: Friday saw the latest tweak to the BoJ's Rinban operations, whereby the
Bank cut the size of its 10-25 Year purchases by 20bn, and 25+ Year Rinban
operations by Y10bn, which weighed on the super-long end of the curve and
triggered bear steepening.
- The move pressured futures, although the contract reclaimed some of its
losses, to close around the middle of its daily range.
- Elsewhere, the latest BBG source report pointed to lower GDP forecasts being
released alongside the BoJ's latest MonPol decision, due Thursday, while top
level Japanese policymakers pushed back against the idea that the government
would delay the sales tax hike, scheduled for October.
- The aforementioned BoJ MonPol decision headlines the domestic docket this
week, with the latest labour market report, retail sales and industrial
production data all due on Friday.
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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