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Long End Outperforms In Limited Trade

JGBS

JGB futures ticked lower during the morning session, unwinding the overnight uptick, before finding a modest bid during the afternoon, closing +6, with little in the way of overt drivers observed, resulting in relatively narrow trade. Cash trade saw some light bull flattening, even ahead of tomorrow's 20-Year JGB supply. Swap spreads generally widened a little across the curve, although the morning uptick in outright swap rates unwound. PPI and the latest round of weekly international security flow data headline locally on Thursday.

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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