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JGB futures have stuck to a 5 tick range.......>

JGBS
JGBS: JGB futures have stuck to a 5 tick range ahead of today's 5-Year JGB
auction, with the super-long end experiencing some modest underperformance with
risk on flows apparent, while the belly showed no sign of concession ahead of
today's supply.
- Bears have so far failed to capitalise on last Wednesday's sell-off in futures
with the recovery resulting in pops above 100 & 200-DMAs. The 150.88-94
resistance region remains key today and has held firm thus far. Bulls need a
close above this region to return focus to the 151.02-19 resistance region.
Daily studies remain well placed for gains. Bears now need a close below 150.71
to gain breathing room and reconfirm initial focus on 150.53-60.
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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