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PREVIEW: The Japanese MOF will today...>

JGBS AUCTION
JGBS AUCTION: PREVIEW: The Japanese MOF will today sell Y2.2tn of 10-Year JGB's
reopening #JB353.
- The MOF last sold 10-Year debt on January 8, the auction drew cover of 4.041x
at an average yield of 0.015%, average price of 100.84, high yield of 0.016%,
low price of 100.83, with 39.9871% of bids allotted at the high yield.
- 10-Year benchmark JGB yields have operated in a ~7bp range in the time since
the most recent auction, operating in negative territory during February thus
far. 10s look attractive vs. 7s in ASW & Z-spread terms and offer the most
attractive carry and roll proposition on the curve. 
- Results due at 0335GMT/1235JST
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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