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Marching To The Beat Of The Broader Drum

JGBS

A muted morning for JGBs saw the major cash benchmarks hit the lunch bell within -/+0.5bp vs. Friday’s closing levels, while futures unwound their overnight losses to reach the break +5. The broader risk-negative headlines (flagged earlier) supported the space, while BoJ Governor Kuroda failed to introduce any new points of discussion in his latest address to parliament (stressing that now is not the time to normalise policy, pointing to outcome-based monetary policy re: inflation, as opposed to a date-based process).

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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