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JGB futures have once again stuck to a tight...>

JGBS
JGBS: JGB futures have once again stuck to a tight range in the morning session,
operating in familiar territory sandwiched between key support and resistance
levels.
- Cash JGBs have lacked clear direction and are virtually unchanged.
- The latest round of BoJ Rinban operations, covering the 10-25+ Year buckets
provided mixed results, while the size of the operations were left unchanged.
The 10-25 Year bucket's offer to cover moderated a tad after the jump that came
in Monday's operations, while the 25+ Year bucket's offer to cover ratio surged
to 4.25 from 3.17.
- Following the bounce from futures' 200- (150.76) & 100- (150.75) DMA's bulls
look for a close above hourly resistance from May 30 (151.02) to push focus
higher.
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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