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Little reaction in lieu of the latest..........>

JGBS
JGBS: Little reaction in lieu of the latest 10-Year JGB auction, which was
buffeted by 10-Year yields moving back into positive territory, allowing the
average yield of the auction to register at 0.015%. The tail on the auction
narrowed vs. the previous 10-Year supply, with the cover ratio ticking higher.
Also worth highlighting that the low price of the auction topped the exp. in the
BBG poll, albeit at the margin.
- The 10-Year sector underperforms on the day, with benchmark last yielding
0.008%, while futures operate at the lower end of today's range.
- Swaps are tighter across the curve.
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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