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JGB futures last trade 3 ticks higher at.......>

JGBS
JGBS: JGB futures last trade 3 ticks higher at 150.94, with the curve sitting
flatter as the long end continues to outperform.
- Futures followed broader fixed income assets lower in early dealing, as the
June 12 US-North Korea summit seems a more likely proposition than it did 48
hours ago, with Trump a little more upbeat on the matter in comments made over
the weekend. Elsewhere the Italian President blocked the formation of the
M5S/League government as he vetoed their EconMin nomination, Savona, owing to
his anti-EUR stance. This will likely send Italy back to the polling booths.
- Futures recovered in the morning session finishing around best levels, perhaps
supported by larger than average month-end flows (according to Morgan Stanley's
estimates) but have eased a touch in afternoon dealing. The range remains
limited.
- Swaps out to 3-Years are a little tighter, while longer dated swaps are wider.
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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