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JGB futures held a tight range in the..........>

JGBS: JGB futures held a tight range in the morning, before challenging
overnight highs, aided by a strong 5.5-15.5 Year liquidity enhancement auction
for off the run JGBs (higher cover, tighter tail and narrower spreads vs. prev.
auction). Contract last +25, with the belly leading in the afternoon, and swaps
generally wider (excluding the 10-30 Year sector).
- Elsewhere, the Japanese fiscal cogs continue to turn, with suggestions that PM
Abe is pushing ahead with junior coalition party leader's request re: Y100K
handouts to all families irrespective of income, via local press reports.
- Elsewhere, the Nikkei suggested that the Japanese government will downgrade
its assessment for a second consecutive month
- Everything really is COVID-19 centric at the moment. As a reminder, yesterday
saw an official warn that Tokyo could see 80K cases, unless things change re:
the implementation of social distancing measures and the like.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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