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JGBS
JGBS: JGB yields edged higher to 20-Years out on Monday, with futures a touch
softer, as the space operated in sympathy with global risk appetite, although a
modest bid returned to the super-long end in afternoon dealing, allowing 30- &
40-Year paper to finish higher, continuing the recent trend, which has developed
owing to factors we have highlighted previously (and in a recent MNI Analysis
e-mail).
- BOJ Governor Kuroda took to the wires on Monday, maintaining his optimistic
growth and inflation outlook for Japan's economy.
- Participants now focus on today's 5-Year JGB supply.
- Bulls look to 151.02-19 where the 2018 & monthly highs are situated. Daily
studies looking to correct from modestly overbought levels and the lack of
topside follow through remain concerns for bulls. In saying that, bears still
need a close below 150.89 to signal a false break higher and return initial
focus to 150.71-80.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com