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Futures Hit Highest Level Since Early Feb, 10-Year JGB Supply Due


JGB futures built on their Tokyo rally during overnight dealing, adding 13 ticks, hitting the highest level observed since February 4 in the process. The bid was aided by NY demand for the U.S. Tsy space (which we have fleshed out in earlier bullets). Still, the recent recovery from cycle lows is considered corrective in a technical sense, with bulls needing to force a break above the January 21 high (151.09) to start turning the tide in their favour. 10-Year JGB supply dominates the local docket on Tuesday.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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