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JGB futures stuck to a tight range early on,...>

JGBS
JGBS: JGB futures stuck to a tight range early on, before easing in the
afternoon as US Tsys moved back from session highs & the stronger equity/softer
JPY backdrop finally weighed on the space after a resilient morning session.
- The cash curve is a little flatter on the day, while swaps have operated in a
mixed manner after widening in the main during the morning session.
- The latest JSDA data revealed that Japan's large banks sold a record amount of
super-long JGBs in April of this year.
- Futures sit bang on the 200-DMA (150.71), with bears eying the May 16 low
(150.62)
- Participants await Tuesday's 20-Year JGB auction & Thursday's liquidity
enhancement auction.
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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