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Not the most convincing round of 20-Year.......>

JGBS
JGBS: Not the most convincing round of 20-Year supply out of Japan there, with
the price & yield tails widening a touch vs. priors and the cover ratio
softening, although the low price was above dealer exp. (proxied by the BBG
dealer poll), and the latter point has garnered the most market reaction,
providing some support for both JGB futures and the super-long end of the curve
(% allotted at the high yield was also lower).
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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