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Morning trade saw the curve bull flatten, in...>

JGBS
JGBS: Morning trade saw the curve bull flatten, in line with the broader
risk-off backdrop, driven by Apple's warning re: earnings guidance.
- This saw futures add 14 ticks during morning trade, 1 tick off best levels at
the lunch break.
- Some underperformance was evident in the belly of the curve, likely ahead of
today's 5-Year JGB supply.
- JPY has been the outperformer in the FX space, with local stocks trading
defensively (Nikkei 225 -1.2%, TOPIX -1.2%).
- Japanese FinMin Aso attempted to bolster confidence by noting that the
Japanese economy has fairly solid fundamentals, despite yesterday's soft Q4
prelim GDP print, although he did tip his hat to uncertainty re: Coronavirus.
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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