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JGB futures edged lower as participants........>

JGBS
JGBS: JGB futures edged lower as participants returned from the elongated
holiday weekend, with the contract finishing the morning session 24 ticks below
settlement levels, a few ticks off intraday lows, but still below the 50%
retracement mark from April's rally.
- 7s underperformed on the curve, suggesting the move in cash may be futures
driven.
- The breakdown of the BoJ's latest round of Rinban operations saw wider spreas,
with upticks for both the 1-3 Year offer/cover ratio (2.02x vs. prev. 1.75x) &
5-10 Year offer/cover ratio (3.42x vs. prev. 2.36x)
- 6-Month Bill supply due this afternoon.
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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