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JGB futures unwind their overnight session.....>

JGBS
JGBS: JGB futures unwind their overnight session gains on the back of the latest
tweaks to the BoJ Rinban operations.
- The bank trimmed the size of its 10-25 Year JGB purchases by Y20bn, to Y160bn
(the last tweak to purchases across these maturities saw a Y20bn reduction back
on February 12), and also cut the size of its 25+ Year purchases by Y10bn, to
Y40bn, in the first reduction in purchases in that particular bucket since
September 2018.
- Futures hover just above reaction lows, printing at 152.47 at writing, 7 ticks
lower on the day, with the curve sitting a steeper as a result.
- The latest round of Japanese CPI data was ignored by market participants.
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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