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JGB futures consolidate their move higher......>

JGBS
JGBS: JGB futures consolidate their move higher after the latest adjustments to
the BoJ's Rinban operations. As highlighted earlier the BoJ raised the size of
its 10-25 Year purchases by Y40bn after reducing the monthly purchase frequency
to 3x from 4x in its June plan. If the BoJ leaves the size of its 10-25 Year JGB
purchases steady during the remainder of the month it will purchase Y40bn less
10-25 Year JGBs in June than it did in May.
- The larger purchase size has resulted in some twist flattening of the curve,
while futures last trade 7 ticks higher, at session highs.
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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