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Futures Lower, Swap Curve Steepens

JGBS

JGB futures show lower as locals react to the overnight move/late NY weakness in U.S. Tsys, last -15, with support noted at the Oct 8/11 low (150.18). The wings of the cash JGB curve are little changed to a touch richer, while the 5- to 20-Year sector of the curve trades 0.5-1.0bp cheaper. Swap spreads are wider across most of the curve, with the move most pronounced in the super-long end as the swap curve steepens.

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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