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JGB futures trade 5 ticks higher heading.......>

JGBS
JGBS: JGB futures trade 5 ticks higher heading into the close. Futures edged
lower in early dealing, before garnering some support, likely on the back of the
modest dip in local stock metrics, finishing the morning session 3 ticks higher
vs. settlement.
- Yields trade mixed across the curve, with the long end experiencing some
outperformance in the afternoon session, promoting some curve flattening.
- There was little reaction to the latest 5-Year JGB auction, which saw the
cover ratio slide, even as the tail vanished, with the lack of natural investors
in the tenor outweighing the relatively attractive pricing vs. 7-Year paper.
- StanChart priced samurai issuance today, with Credit Ag due to price Friday.
This comes after Commerzbank mandated banks for JPY issuance and Bank of China
announced a new 3- & 5-Year JPY bond deal.
- BoJ 5-25+ Year Rinban ops headline the docket Friday.
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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