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Sharply Lower Post-BoJ Surprise

US TSYS

Tsys now sit 2-11bp cheaper across the curve, with bear steepening in play after the BoJ caught markets unaware and widened its YCC trading band covering 10-Year JGBs by 25bp at each end (to -/+50bp). TYH3 shunted aggressively lower, last dealing -0-19+ at 113-17, -0-03 off the base of its session range. Afternoon JGB activity is eyed.

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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