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Mostly in the red against G10s


J.P.Morgan: De-Risking Dominates




Unemployment Rate Falls To 3.3% in November

JGBS: JGB futures held a tight range, edging to fresh session highs around the
time of typing, but still -1 on the day. Underperformance was evident in the
belly of the JGB cash space for most of the session, with yields now marginally
mixed ahead of the bell. Swap spreads are mixed vs. JGBs, with the swap curve
virtually flat.
- Focus fell on the rollback of some local COVID-19 restrictions, in line with
the previously outlined schedule. Elsewhere, the Japanese government upgraded
its economic view, which had been flagged by source reports earlier in the week.
The rhetoric surrounding the situation of course remains guarded given the
current backdrop.
- National CPI data was largely in line with exp.
- 1-10 Year BoJ Rinban ops headline the local docket on Monday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |