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JGBs have been virtually immune to the.........>

JGBS
JGBS: JGBs have been virtually immune to the broader risk on tone that has
developed over the last half an hour or so, with futures trading 2 ticks higher
at 150.92.
- Yields at either end of the curve are lower, with some modest concession seen
across most of the belly heading into today's liquidity enhancement auction for
off the run 5-15.5 Year JGBs.
- Bulls take comfort in support emerging on dips in the futures with the 55-DMA
(150.73) lurking just below. Layers of resistance remain with bulls needing a
close above the high from April 04 (150.99). Bears now look for a close below
yesterday's low (150.85) to gain breathing room.
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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