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Pre-BoJ Adjustment In JGBs Limiting Any Bearish Impetus

AUSSIE BONDS

ACGBs run 2.5-3.5bp cheaper across the curve, with a bid in JGB futures and short to intermediate zone of the cash JGB curve (pre-BoJ position adjustments seemingly at the fore there) limiting any bearish impetus thus far. YM & XM print -3.0 & -3.5 accordingly, off of their early Sydney bases. EFPs have narrowed a touch today. Local catalysts have been relatively non-existent.

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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