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Futures Off Lows

JGBS

JGB futures finished the morning session 12 ticks below settlement, recovering from worst levels, after bears failed to force a challenge of trend support at 151.75.

  • 7s and 40s were the weak points on the cash curve, with the former likely linked to weakness in futures, while the longer end weakness would fall in line with the steepening pressure witnessed in U.S. Tsys on Thursday. The Japanese swaps curve also steepened.
  • The 3 major Japanese national CPI readings provided no notable deviation from expectations in September, while the October flash PMI survey revealed steady rates of contraction across the manufacturing, services & composite readings.
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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