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JGBS

It was another limited Tokyo session for JGBs, with the cash space little changed out to 10-Years, and slightly softer further out, while swap spreads were a touch wider across the curve. JGB futures stuck to the range established in overnight trade, finishing -4 on the day.

  • The latest round of BoJ Rinban operations saw the purchase sizes held steady, with the following cover ratios observed: 1-3 Year: 3.18x (prev. 3.01x), 10-25 Year: 4.82x (prev. 4.78x).
  • Elsewhere, Japanese FinMin Aso continued to lament the current fiscal situation, but offered nothing in the way of fresh insight, while BoJ Governor Kuroda reaffirmed the general purpose of the Bank's ETF purchase scheme.
  • Retail sales data and 2-Year JGB supply headline the local docket on Thursday.
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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