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Holding Firm, Cover Ratios Tick Higher In Rinban

JGBS

The majority of the benchmarks across the cash JGB curve sit ~1.5 bp richer on the day, in lieu of the overnight move in futures/U.S. Tsys. Futures themselves held onto the bulk of their overnight gains, hitting the lunch bell 13 ticks above Tokyo settlement levels, although there has been little in the way of notable headline flow to flag during Tokyo hours.

  • The latest round of BoJ Rinban operations covering 1- to 10-Year JGBs saw some light upticks in the offer/cover ratios, with the bucket-by-bucket breakdown as follows:
  • 1- to 3-Year 3.22x (prev. 2.42x)
  • 3- to 5-Year 3.30x (prev. 3.16x)
  • 5- to 10-Year 2.54x (prev. 1.90x)
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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