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Slight Extension Of Overnight Cheapening

JGBS

JGB futures saw a marginal extension of their overnight weakness as U.S. Tsy futures came under some pressure, hitting the lunch break 20 ticks below settlement levels. Cash JGBs ran little changed to 1.5bp cheaper across the curve, with the 7- to 20-Year zone of the curve leading the weakness. Note that much firmer than expected domestic PPI data was witnessed, although there wasn't much in the way of tangible reaction post-release.

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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