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JGB futures last +10 ticks vs. settlement......>

JGBS
JGBS: JGB futures last +10 ticks vs. settlement levels, but sit shy of the early
Tokyo highs after bulls failed to force a clean break through the overnight
highs in early trade.
- 5s outperformed in cash trade, with swaps a touch wider across most of the
curve.
- Tokyo Governor Koike has pointed to a similar uptick in the city's COVID-19
cases when compared to yesterday, while local press reports have pointed to a
marginal uptick/fresh record.
- A quick look at the breakdown of the BoJ's 1-10 Year Rinban ops, which saw the
Bank leave its purchase sizes at steady levels. The 1-3 Year ops saw a slight
uptick in the offer/cover ratio and widening of spreads, the 3-5 Year ops saw a
steady offer/cover and marginal widening of spreads and the 5-10 Year ops saw an
uptick in offer/cover and steady spreads.
- Trade balance data headlines locally on Monday.
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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