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JGBs also benefitted from the broader..........>

JGBS
JGBS: JGBs also benefitted from the broader defensive posturing during Tokyo
hours, in addition to the breakdown of the latest round of BoJ 1-5 Year Rinban
ops, which saw tighter spreads and a moderation in the offer/cover ratios.
- Futures +14, just off best levels as we grind towards the bell, with the 7-10
Year sector of the curve lagging all day. Swaps have generally trailed cash
across the curve (excl. 30s and 40s), with the swap curve bull flattening.
- On the news flow front, Economy Minister Nishimura confirmed reports re: the
early lifting of the state of emergency in Osaka, Kyoto and Hyogo prefectures.
- The latest BoJ monetary policy decision and national CPI data headline locally
on 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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