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JGB futures edged lowing in early dealing,.....>

JGBS
JGBS: JGB futures edged lowing in early dealing, before garnering some support,
likely on the back of the modest dip in local stock metrics.
- Focus today falls on 5-Year supply. The sector looks attractive vs. benchmark
7-Year paper in ASW terms. The same can be said for a z-spread approach.
- Y2.6tn worth of redemptions from 2-Year paper may support demand, however the
spectrum of potential investors in the 5-Year maturity is smaller than most
other tenors across the curve.
- StanChart are set to price samurai issuance today, with Credit Ag due to price
Friday. This comes after Commerzbank mandated banks for JPY issuance.
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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