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JGB futures stuck to a tight range in..........>

JGBS
JGBS: JGB futures stuck to a tight range in Tuesday's morning session, largely
ignoring the 2.0%+ sell off in the Nikkei 225, with cash yields virtually
unchanged across the curve.
- The space took notice of the broader risk appetite in the second half of the
day, as the Nikkei made fresh session lows, allowing the super-long end of the
curve to marginally outperform.
- The latest liquidity enhancement auction for 5-15.5 Year JGBs passed smoothly,
with no notable immediate effect on the space.
- JGB futures continued to grind higher in the overnight session, posting a
bullish close with the 50-DMA succumbing (and switching to key support), the
100-DMA now becomes the key level.
- Focus this week turns to BOJ Rinban operations (today & Friday) & 2-Year
supply (Thursday).
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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