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Light Outperformance For The Long End

JGBS

A fairly sedate morning session saw the super-long end of the curve experience some very mild outperformance, perhaps on spill over from U.S. Tsy trade during NY hours, as the cash curve bull flattened. Futures traded either side of unchanged, ultimately hitting the lunch bell -1. 5-25 Year BoJ Rinban operations were upsized, in line with the Bank's already delivered April Rinban outline, with the offer to cover ratios sliding vs. the previous operations in the respective buckets.

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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