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JGB futures drifted back from best levels......>

JGBS
JGBS: JGB futures drifted back from best levels ahead of the close, last +5
ticks, with the curve twist steepening on the day on the back of a Nikkei story
which noted that Japan is mulling an increase of 40-Year bond issuance in FY2020
(by several hundred billion yen). The report also noted that the government will
discuss whether 5- & 10- Year issuance needs to be reduced if 40-Year issuance
is lifted.
- The latest round of 1-5 & 10-25+ Year BoJ Rinban ops saw all the purchase
sizes remain unchanged, with the 3-5 & 10-25 Year offer to cover ratios
moderating and 1-3 Year offer to cover ratio ticking higher.
- 40-Year supply headlines tomorrow's local docket.
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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