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JGBs are on the back foot in early afternoon...>

JGBS
JGBS: JGBs are on the back foot in early afternoon dealing, with the Nikkei 225
moving to fresh session highs, and JGB futures breaching the overnight low, last
13 ticks lower on the day.
- The belly of the cash curve had underperformed for the majority of the
session, with the longer end now catching up.
- The latest 5 year auction saw the tail widen, although the coverage ratio held
steady, with the low price marginally softer than the BBG dealer poll estimate.
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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