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JGB futures continue to operate in a tight.....>

JGBS
JGBS: JGB futures continue to operate in a tight range, holding lower on the
day, with the cash curve running a touch steeper.
- Today saw the BoJ leave its MonPol settings unchanged at its latest decision.
There was a 7-2 vote to leave YCC unchanged as Harada & Kataoka dissented
(expected). The Bank also trimmed its inflation outlook (expected). The Bank
added that it needs to pay close attention to future developments, as it noted
an increase in downside risks, highlighting the risk of the scheduled sales tax
hike, but risks to the Bank's outlook are not deemed significant at present.
- Focus now moves to BoJ Governor Kuroda's press conference and the Bank's
November Rinban operation outline due later today. 10-Year JGB supply is due
tomorrow.
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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