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JGBs have eased a touch with 10-Year Bonds.....>

JGBS
JGBS: JGBs have eased a touch with 10-Year Bonds underperforming on the curve
ahead of today's 10-Year JGB supply.
- The previous 10-Year JGB auction went well and benchmark 10-Year JGBs have
operated in a tight range since. The sector lacks any real attractiveness
against the surrounding issues on the curve and in ASW terms, although the carry
provided by switching out of 5-Year JGBs into new 10s may draw demand. 
- JGB bears now need a close below 150.89 in futures to signal a false break
higher and return focus to 150.71-80.
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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