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JGBs finished the session at 150.90.....>

JGB SUMMARY: JGBs finished the session at 150.90 (+5 ticks), with the cash curve
reversing the bulk of its flattening in the afternoon session. Swap spreads were
tighter across the curve.
- The longer end gave up most of its gains after the Nikkei 225 moved higher in
afternoon dealing.
- The pull back from session highs took place in spite of supportive results
from the BoJ's latest round of Rinban ops covering the 5-25+ year buckets.
- From a technical perspective futures' topside failures last week left the
contract looking heavy and focus back on 150.64-72 where 55 & 200-DMAs are
noted. Bears look for a close below the 200-DMA (150.63) to hint at a move back
to 2018 lows with below 150.55 to add weight to their case. To the upside the
150.99-151.06 resistance region is key this week
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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