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Futures Marginally Higher Overnight, BoJ Buying Eyed

JGBS

JGB futures registered modest gains in limited overnight dealing, finishing the post-Tokyo session 5 ticks above settlement levels. Local news flow has been relatively reserved since the Tokyo close, with continued focus on the relaxation of COVID-related border restrictions. BoJ fixed rate operations and the latest round of BoJ Rinban operations (covering 1- to 5- & 25+-Year JGBs) provide the highlights of Friday’s domestic docket. As we have noted elsewhere, a raft of holidays may limit broader headline flow and liquidity in wider financial markets on Friday, while there is a lack of clear lead given the limited move in U.S. Tsys during Thursday trade (ahead of Friday’s U.S. NFP release).

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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