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Rangebound Start, 20-Year JGB Supply Eyed


JGBs run 0.5bp richer to 1bp cheaper across the curve, with 40s providing the weakest point in what has been a generally limited round of early Tokyo trade. Futures are incrementally higher, last +3.

  • There has been a lack of domestic headline flow evident since the Tokyo re-open, leaving participants to assess the overnight news and market movements, while leaning on the early Asia bid in U.S. Tsys for a potential source of incremental support.
  • Although the early uptick in futures has faded from extremes, perhaps limited by worry surrounding this afternoon’s 20-Year JGB auction.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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