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

JGBS
JGBS: JGB futures held a tight range in the morning session, heading into lunch
1 tick above settlement levels.
- The 20-30 Year area of the curve outperformed in cash, despite 30-Year supply
being due tomorrow.
- Swap curve a little different, twist steepening, with spreads vs. JGBs mixed.
- The BoJ left the size of its 1-5 & 10-25 Year Rinban ops unchanged. Details
below:
- 1-3 Year: offer/cover 2.54x (prev. 2.01x) yield spread -0.004 (prev. -0.005)
- 3-5 Year: offer/cover 2.48x (prev. 2.81x) yield spread 0.003 (prev. 0.015)
- 10-25 Year: offer/cover 3.20x (prev. 3.57x) yield spread 0.003 (prev. -0.014)
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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