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JGBs continued their recent foray higher in....>

JGBS
JGBS: JGBs continued their recent foray higher in the morning session, as
futures broke Thursday's and the Aug 31 high, with modest curve flattening
supported by a continued dip in longer dated swap rates.
- The bid may have been aided by late headlines Thursday pointing to President
Trump hinting to the WSJ that a trade fight with Japan "could be next," but upon
second glance the article was less inflammatory than the headlines The stronger
JPY weighed on the Nikkei 225 which shed 1.0% in the morning session, which also
lent support to JGBs in early dealing.
- A strong liquidity enchantment auction for 1-5 Year paper did little for the
space in the afternoon, with the shorter end of the curve underperforming as the
long end moved back to neutral as a degree of profit taking crept in ahead of
the weekend.
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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