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Little in the way of reaction in JGB futures...>

JGBS
JGBS: Little in the way of reaction in JGB futures and benchmark 10-Year JGB
yields in the wake of the latest 10-Year JGB auction.
- The tail was marginally wider than the most recent auction, with the low price
slightly softer than the dealer poll estimate collated by BBG. The cover ratio
eased.
- As a reminder, 10-Year benchmark JGB yields sit at the lowest level observed
since late July/early August, when the BoJ tweaked its YCC settings, at 0.075%,
consolidating below the heavily watched 0.1% in recent sessions. The low
outright yield likely dissuaded participation in the auction.
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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