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JGBs started the session on the back foot,.....>

JGBS
JGBS: JGBs started the session on the back foot, following on from a heavy
session for U.S. Tsys on Wednesday, which was promoted by stronger than exp.
U.S. economic data and hawkish rhetoric from Fed Chair Powell.
- 10-Year JGB yields are now above levels that triggered volatility smoothing
operations from the BOJ in recent times, last 0.155%.
- 10-Year JGB futures have had a look below 150.00, but were reluctant to break
lower, and trade just above the figure last, with the August 02 spike low
(149.75) still providing the focal point for bears.
- The upcoming liquidity enhancement auction for 15.5-39 Year JGBs provides the
highlight today.
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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