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MoF Meeting With Investors, Bond Dealers Draws Attention, BoJ Rinban Ops Eyed

JGBS

JGB futures climbed in Wednesday's London morning, peaked at 152.20 and trimmed gains into the WMR fix. The contract re-opened little changed and last trades at 152.16, 2 ticks above last settlement. The Nikkei 225 operates close to neutral levels as we type. Cash JGB yields trade lower, save for the super-long end, with 7s outperforming.

  • MoF officials hold a meeting with investors and primary bond dealers today and any hints on Japan's third extra budget/debt issuance plans will provide interest.
  • The Nikkei reported that Tokyo metropolitan gov't will sell Y60bn of coronavirus bonds, while the central gov't will extend employment subsidy programme through the end of Feb.
  • The latest round of BoJ Rinban ops covering 1-3 & 5-25 Year JGBs is due later today.

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