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JGB futures last print -19, 12 ticks off.......>

JGBS
JGBS: JGB futures last print -19, 12 ticks off lows, with bear steepening the
theme in cash trade.
- The latest 10-Year JGB auction provided some brief respite to the sell off,
being deemed solid after December's dismal offering, but was by no means strong.
The cover ratio printed at the highest level for a 10-Year auction since August,
with the low price topping exp. and tail notably narrower vs. the poor Dec
auction.
- Local data releases saw the final composite PMI reading worsen vs. flash, with
the services print moving into contractionary territory.
- Cash earnings data headlines the local docket on Wednesday.
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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