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JGB futures edged higher in the afternoon,.....>

JGBS: JGB futures edged higher in the afternoon, finishing +11, with the long
end experiencing some marginal outperformance in the wake of a solid enough
round of 20-Year supply, before fading.
- On the budget front, the govt's semi-annual update left the timeframe in which
it expects to achieve a balanced budget unchanged, although it revised down
initial surplus estimates (in terms of nominal amounts). FinMin Aso noted that
spending reforms aren't reflected in these, and that those matters will be
tackled moving forwards. He also expressed some doubt re: Chinese GDP &
questioned the accuracy of economic estimates stemming from the Sino-U.S. phase
1 trade deal.
- Local industrial production (final) & capacity utilisation data are due
Monday, as is the latest round of 1-5 Year BoJ Rinban operations. This comes
ahead of the latest BoJ MonPol decision, due Tuesday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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