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JGB's extending their losses in the............>

JGBS
JGBS: JGB's extending their losses in the afternoon, futures now down 16 ticks
at 150.80 after opening tokyo at 150.83 and hitting a session high of 150.87 in
early trade.
- The decline comes post BoJ purchase operations, the bank kept sizes of JGB
purchases unchanged today, with the main focus being on the Y410bln purchase in
the 5-10 Year sector. The results are slightly weaker than previous with the
offer/cover ratio 3.39 from 2.88 last time out and slightly narrower spreads.
- The curve is steepening with the long end seeing heavier selling, on Wednesday
and Friday this week the MOF are set to conduct enhanced liquidity auctions in
the 1-5 Year (Wednesday) and 5-15.5 Year (Friday) zones.

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