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Futures have stuck to a tight range in the.....>

JGBS
JGBS: Futures have stuck to a tight range in the morning session, after they
broke above their 100-DMA during the overnight session, as risk off flows took
hold once again, bulls now target a move above the 200-DMA (150.61).
- The curve finished the morning session flatter, with super-long paper
outperforming, while swaps have run wider as they lagged the move.
- Nippon life & Japan Post have both indicated that they would like 30-Year JGB
yields to top 1.00% before they become more active in the sector.
- Early option flow was noted in the JBZ8 149.50, 150.00 & 150.50 put fly, talk
of the structure being bought in 1.0K.
- Focus now turns to 2-Year supply (today). & BOJ Rinban operations (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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