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JGB futures recovered overnight, as Tsys.......>

JGBS
JGBS: JGB futures recovered overnight, as Tsys turned bid, finishing after-hours
trade 47 ticks above the Tokyo settlement.
- As a reminder, yesterday's horrible 10-Year auction pressured JGB futures and
triggered an emergency margin call for the contract. There was some brief
respite for the contract not long after the auction, but the contract then sold
off again ahead of the Tokyo close as the belly of the curve experienced some
notable underperformance on the day.
- The space was already on the back foot ahead of the auction in the wake of the
announcement of the BoJ's October Rinban outline, which was released on Monday.
- There is a limited local docket today, with broader headlines and flow set to
drive activity during the upcoming session.
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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