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Little to report for the space outside of......>

JGBS
JGBS: Little to report for the space outside of the shift lower on the back of
the stronger than expected headline Japanese GDP print (breakdown was a little
more questionable).
- JGB futures last trade 12 ticks worse off on the day, back from the knee-jerk
reaction low that was seen on the back of the release.
- The curve bear steepened, with the super-long end continuing to come under
pressure on the back of the move higher in the offer to cover ratio in Friday's
25+ Year BoJ Rinban operations.
- There was little reaction to the latest 5-15.5 Year JGB liquidity enhancement
auction.
- Focus tomorrow turns to 1-10 Year Rinban operations.
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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