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Smooth Digestion Of 5-Year Supply

JGBS

{JN} JGBS: 5-Year Smooth Digestions OF %-Year Supply

The low price observed at the latest round of 5-Year JGB supply met wider expectations (as proxied by the BBG dealer poll), with the price tail holding tight. However, the cover ratio nudged lower, below the 6-auction average. Nothing in the way of notable post-auction supply in 5-Year JGBs, nor in JGB futures, with the auction providing a smooth enough round of digestion.

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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