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JGB futures sit 24 ticks lower on the day,.....>

JGBS
JGBS: JGB futures sit 24 ticks lower on the day, back from worst levels.
- The aforementioned news flow exacerbated some pre-auction concession, as the
curve steepened during the Tokyo morning.
- 30-Year supply saw the lowest cover ratio at a 30-Year auction since November
2017, although the yield and price tails narrowed vs. prior, allowing longer
dated yields to move back from extremes in the wake of the supply, as super-long
paper unwound the aforementioned early steepening. Yield changes are now fairly
parallel across the curve.
- Labour cash earnings data & 1-10 Year Rinban headline tomorrow's local docket.
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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