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Longer dated swaps and JGBs continued their....>

JGBS
JGBS: Longer dated swaps and JGBs continued their relative outperformance on the
back of a solid 30-Year auction, which saw a higher low price vs. exp and a
tight tail, although the bid to cover ratio eased back (but it still remains
elevated). This has allowed the curve to extend on the early flattening that was
observed and more than correct the modest steepening/concession experienced on
Monday.
- Futures registered a fresh high on the back of the auction, and ground higher
through the remainder of the session.
- Barclays provided the highlight of the corporate issuance docket with Samurai
lines announced.
- Focus now returns to BOJ Rinban ops for the remainder of the week.
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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