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Light Richening Out To 10s Post-Auction

JGBS


The firm 2-Year JGB auction has aided paper out to 10s, which has dragged futures off of worst levels (although that contract is still -18 on the day). Cash JGBs now run ~1bp richer to ~3.5bp cheaper across the curve, with a lack of a fresh bid in the super-long end evident, allowing the curve to twist steepen.

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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