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JGB futures are slipping on the back of the....>

JGBS
JGBS: JGB futures are slipping on the back of the latest 10-Year JGB auction.
Although the bid-to-cover held up, there was a 1.2bp gap between the average and
high yield, underscoring the scepticism that some dealers held heading into
supply on the back of the recent run of volatility in the space.
- Some 48.9994% of the paper was allotted at the high yield up from the prior
38.2288%.
- The low price of the auction was also significantly softer than expected at
99.62 vs. exp. 99.73.
- 10-Year yield last 0.138% vs. the auction high yield of 0.138%.
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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