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

JGBS
JGBS: JGB futures hugged a tight range in the morning session, having a look
through, but failing to make a clean break below the overnight session's lows,
abefore ticking away from worst levels.
- Contract then edged higher in the afternoon on the back of a solid enough
30-Year auction which saw the price tail a touch wider than prev., cover ratio
virtually steady and low price a little above that exp. by dealers (proxied by a
BBG poll).
- Futures last -13 vs. settlement, 4 ticks back from Tokyo session highs, with
light twist steepening of the curve evident as yields moved away from extremes
on the back of the aforementioned auctioned.
- Swaps remain tighter from 5-Years out.
- Household spending and BoJ Rinban ops covering 1-10 Year paper headline
tomorrow's local docket.
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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