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Reports On Stimulus Size Weighs

JGBS

JGBs on the defensive on the back of the latest Nikkei report surrounding the size of the impending fiscal stimulus package, with futures down 6 on the day, while the cash JGB curve twist steepens as issuance worry weighs on the longer end. 20s are still a touch firmer than yesterday's closing levels on the back of the strong 20-Year JGB auction witnessed earlier today. In terms of the details, the Nikkei noted that the Japanese fiscal support package will total Y55.7tn, that is above any expectations that we had seen in circulation, and is much higher than the previously touted ~Y40tn.

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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