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JGB opening call Barclays: "Today could see....>

JGBS
JGBS: JGB opening call Barclays: "Today could see buyers take the upper hand
around the superlong sector amid risk-off flows following the weekend buying in
USTs led by the long end. The BoJ is not scheduled to hold any buying operations
today. This week will see the JGB market focus on discussions around FY18
issuance plans at the primary dealers meeting on 22 November and the BoJ's
buying operations on Wednesday and Friday. Given the light auction schedule
(only a liquidity enhancement auction for 5-15.5y issues on Tuesday) and
prospect of reduced issuance in FY18, we believe yields will tend to be under
downward pressure overall. We believe the market could once again anticipate a
reduction in the offer for 1-3y issues if 2y yields fall back below -0.20%."

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