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JGB futures moved lower in afternoon...........>

JGBS
JGBS: JGB futures moved lower in afternoon dealing, with the long end of the
cash curve underperforming. Contributory factors likely included T-Notes ticking
back from highs and an uptick in the offer to cover ratios in the 5-10 & 10-25
Year buckets in yesterday's Rinban operations. This came after JGB futures moved
higher in the morning session as longer dated swap rates continued to ease,
playing catch up with the bid observed in Tsys during the latter part of the NY
session.
- Focus is set to fall on broader risk sentiment & Rinban operations through the
remainder of the week, with Japanese CPI due Friday, with a liquidity
enhancement auction for old JGBs with 5-15.5 years until maturity is due later
today.
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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