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PREVIEW: The Japanese MOF will today...>

JGBS AUCTION
JGBS AUCTION: PREVIEW: The Japanese MOF will today sell Y1.9tn of 5-Year JGB's
re-opening #JB139. The MOF last sold 5-Year debt on April 9, the auction drew
cover of 5.314x at an average yield of -0.164%, average price of 101.32, high
yield of -0.162%, low price of 101.31, with 5.2806% of bids allotted at the high
yield.
- 5-Year yields sit around 4bp off their recent low and the sector looks a
little rich vs. 2s in ASW terms. The 2-/5-/10-Year JGB fly has edged away from
recent cheaps, but still sits towards the cheaper end of its 6-month range.
- Results due at 0435BST/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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