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JGB futures continued their move higher........>

JGBS
JGBS: JGB futures continued their move higher overnight, tracking global bonds,
after the curve bull flattened on Wednesday, as JGBs drew support from a
negative session for the Nikkei 225 in Tokyo hours.
- As a reminder, the BoJ increased the size of its 5-10 Rinban ops to Y480bn
from the prev. Y430bn, after it trimmed the frequency of purchases covering the
bucket in its March Rinban plan. If the BoJ leaves its 5-10 Year JGB purchase
size unchanged for the remainder of the month it will purchase Y230bn fewer 5-10
Year JGBs during March vs. the prior purchase schedule. The BoJ also left the
size of its JGBi purchases unchanged.
- The offer to cover ratios for the operations were as follows:
- 5-10 Year 2.59x (prev. 3.19x), JGBis 5.51x (prev. 5.13x)
- Elsewhere, BoJ's Harada offered little new in his latest address.
- 30-Year supply dominates the docket today.
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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