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Plying Tight Ranges

JGBS

JGB futures nudged higher early on in Tokyo, but bulls failed to force a notable break through the overnight session peak, contract last +3 on the day, operating within the confines of a narrow range. The major benchmarks in the cash JGB space trade little changed to 0.5bp richer.

  • There was little in the way of meaningful idiosyncratic headline flow for participants to trade off.
  • Japanese Finance Minister Aso confirmed the extension of the government's zero-interest loan scheme for businesses through year end, in line with earlier reports.
  • The latest liquidity enhancement auction for off-the-run 5- to 15.5-Year JGBs passed smoothly.
  • Services PPI data headlines locally on Wednesday.
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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