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Mixed 2-Year Supply, Futures Bid After Lunch

JGBS

A mixed 2-Year JGB auction, with the tail a touch narrower then prev. alongside a softer cover ratio, while the low price comfortably topped broader dealer estimates (BBG dealer poll 100.380). The space has played a little bit of catch up to the uptick in core global FI markets seen during the lunch break, with futures now -22 on the day, while cash JGBs unwind some of their morning weakness.

  • There has also been confirmation that the Japanese government wishes to lift some of its COVID restrictions in western areas ahead of schedule, with Economy Minister Nishimura pointing to no early lifting of restrictions in Tokyo and a gradual easing of restrictions in broader terms.
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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