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Generally Softer

JGBS

JGB futures finished -13 ticks, softening further in afternoon trade, while the cash curve saw some twist flattening as the super long end was initially more concerned by the impending state of emergency declaration in Tokyo & the surrounding areas (details were outlined by COVID response chief Nishimura and met expectations that were a product of recent press reports), while the shorter end looked to the dynamic of global FI markets. The super-long end faded then from best levels as we moved through the day.

  • On the COVID front, Tokyo revealed yet another record day of new cases ahead of the aforementioned declaration of emergency.
  • Elsewhere, local monthly wage data was much softer than expected, in both headline and real terms.
  • 30-Year JGB supply headlines locally on 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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