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JGB futures are threatening to close above.....>

JGBS
JGBS: JGB futures are threatening to close above the previous contract high,
underpinned by a soft Nikkei 225 and stronger JPY during Tokyo trade.
- The contract last trades 24 ticks higher on the day.
- Bull flattening has been the theme in the cash space.
- The latest 2-Year JGB auction went well, with the cover ratio printing around
the level seen last time out, as the tail narrowed. The low price of the auction
topped dealer exp. (as proxied by the BBG poll).
- Labour market data, as well as flash industrial production and retail sales
headline the local docket tomorrow, with Tokyo CPI and the latest round of BoJ
Rinban operations also due.
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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