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JGB futures have drawn a modest bid in the.....>

JGBS
JGBS: JGB futures have drawn a modest bid in the wake of the latest 10-Year
auction, which saw the low price marginally top dealer exp., as the tail held
steady and cover ratio ticked up. Overall, the contract has stuck to a tight
range. This promoted outperformance in yields from 10 years out during the
afternoon session, allowing twist flattening of the curve to creep in. 
- There has been little to report elsewhere, USD/JPY threatened an upside break
above Y110.00, but has back off since, while the Nikkei 225 trades 0.2% lower on
the day.
- Focus now turns to 5-10 Year BoJ Rinban operations, due tomorrow.
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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