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Little To Add, 10-Year JGB Supply Up Next

JGBS

Futures ticked higher ahead of the lunch bell, to sit +15 at the break, with the early Tokyo contract range holding as bulls failed to test best levels of the day. 10s continue to outperform (modestly) on the curve, despite the presence of impending 10-Year JGB supply, while the early twist steepening of the curve remained in play through the Tokyo morning. BoJ Governor Kuroda hasn’t added much new since the previously outlined comments, reaffirming the Bank’s well-known views on several subject areas, Elsewhere, the market was willing to look through the latest round of household spending data (which missed exp.) and wages data (which beat exp.).

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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